Cape Town — When the axe finally fell on the embattled South Africa's finance minister, Pravin Gordhan, and his deputy, Mcebisi Jonas, the reactions played out as many people had predicted. The country was hit by an immediate drop in the value of the rand and a sovereign credit rating downgrade from rating agenciesS&P and Fitch. Widespread protest against President Jacob Zuma has since followed.
The ensuing protests and debates are dominated by a focus on the role of individuals: Zuma is the centre of focus as the wrecking ball; Gordhan and to some extent Jonas, were seen as the saviours. The view is that all hell will break loose once these good man are gone.
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