Nene gets knocked out and the rand goes wild

On Wednesday night, President Zuma announced the removal of Finance Minister Nhlanhla Nene. The news came as a shock, and the markets plummeted soon after, with the rand hitting R15 to the dollar. AAISHA DADI PATEL rounds up the reaction from Twitter.

Around 8pm last night, South Africans were alerted to the dismissal of the minister of finance, by way of a press statement.

The presidency’s website soon crashed under the weight of inquiry but there was nothing much to see for those who did manage to access the site.

The statement contained no explanation of the reasons for Nene’s dismissal, saying only that he would be redeployed and replaced by ANC backbencher and ousted former mayor of Merafong David Van Rooyen.

(And if you didn’t get that joke you should probably watch this.)

A David Van Rooyen parody account was launched before most South Africans had had time to process the news.

Within a matter of hours, the already volatile rand, which closed at R14.51 to the US dollar on Wednesday, shot up to R15 to the dollar.

Some speculated about the reasons for Nene’s axing.

But most were still in shock about it.

On Thursday, #ZumaMustFall was trending and a lot of shade was thrown the president’s way.

The presidency still wasn’t speaking but the ANC did thank Nene for his contributions as the minister of finance.

That’s got to count for something, right?


– Featured image via Idees Vol Vrees on Twitter.