Pravin Gordhan Appointed SA Finance Minister

South Africa has been going through a tumultuous time over the past few days as the country saw a reshuffling of three finance ministers within four days.

On Wednesday, the country was shocked at the sudden removal of Nhlanhla Nene as finance minister.

President Jacob Zuma then replaced Nene with David Van Rooyen; a rather unknown member of parliament that didn’t seem to have any knowledge or experience in the finance field.

After Nene’s removal and Van Rooyen’s appointment as finance minister, the South African economy took a bit of a nosedive as markets crashed and the Rand was at it’s lowest point in history.

On Friday afternoon, the Rand was trading at R16 to the US dollar – the lowest it’s ever been in its history and close to R25 to the the British Pound.

Following a public outcry where most of the country expressed their utter disdain at the decision made by the government and the subsequent decline of the Rand, President Jacob Zuma announced on Sunday night that he had removed Van Rooyen from his post as finance minister.

He then announced that former minister of finance, Pravin Gordhan, would then resume his position as minister of finance.

Zuma said that the reason he removed Van Rooyen as finance minister after just four days was because of the outcry from the people.

Gordhan has yet to make a public appearance in his new role.