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In an editorial, the Guardian, UK, said that “Zuma’s sacking of his respected Finance minister Nhlanhla Nene … represents another turn in the country’s downward economic spiral” and that Zuma “understands patronage very well, but seems to have no economic strategy at all”.
The Financial Times said “the appointment represents a dramatic twist” and “has raised severe concerns about the financial management of South Africa”.
The Financial Times added that “the saga is a severe embarrassment for South Africa” as it is one of the world’s “most traded and liquid emerging markets”.
The newspaper said it will add to “concerns about the quality of leadership, and exacerbate policy uncertainty”.
Bloomberg said “the change of heart raises questions about Zuma’s standing within the African National Congress”.
The New York Times meanwhile reported that Zuma reacted to “widening criticism of his leadership”.
The Wall Street Journal said “markets on Monday welcomed Zuma’s reinstatement” of Pravin Gordhan as the Finance minister.
