JOHANNESBURG - South African speaker of parliament, Baleka Mbete on Tuesday announced the postponement of the State Of The Nation address (SONA), the address was previously scheduled for February 8.

“This postponement has taken into account the scheduled tabling of the national budget in the next two weeks and we are going all out to make sure that the budget is not disturbed or postponed at all,” Baleka Mbete told reporters.

Opposition parties, who had requested for the State of the Nation Address to be postponed, welcomed the news.

The official sentiment is that SONA has been postponed over fears of opposition disruption, with the Economic Freedom Fighters (EFF) having been vocal on pushing ahead with the their plan to bring a motion of no confidence to Parliament before SONA.

The rand on Tuesday afternoon made some slight gains on the US dollar following news of the postponement. At around 14:40 on Tuesday the rand showed gains of 5cents to the US dollar, moving from R12.09 to R12.05

Business Report veteran journalist, Sechaba ka'Nkosi gave insight on what the likely implications on the rand would be, should the President resign.

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- BUSINESS REPORT ONLINE