Tips for novice finance minister

New Finance Minister Malusi Gigaba. File picture: Etienne Creux/Independent Media

New Finance Minister Malusi Gigaba. File picture: Etienne Creux/Independent Media

Published Apr 4, 2017

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Whilst the new minister of finance is learning the ropes around the finance portfolio, he should avoid making too many policy announcements until he is fully acquainted with his portfolio.

Being a good finance minister will no doubt open up many opportunities and interactions both now and beyond your political career.

One just has to be a bit cautious and listen your senior experienced officials.

Iran, Venezuela and China a long time ago tried go against the major powers and their countries have or are still paying a heavy price for such contrarian economic views.

The ministers are long forgotten.

President Jacob Zuma is desperate to have Zulus north of the Tugela holding this key portfolio.

Amazing Nene, Buthelezi and you all hail from a similar radius and proximity to the Tugela River.

Zulu Nostra it seems.

You can try to act brave, however that will be the surest way to make you another “weekend” finance minister.

SA has had five finance ministers since 2009. This is not a good record.

The slipping rand means higher cooking oil, maize meal and fuel prices.

Be very careful.

For now, the best option for the next three months is to keep a low profile, start learning the basics and getting to know the main key players in the financial markets both in SA and globally.

Muhammad Omar

Durban

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