The Below article is in reference to a story published on Weekly Expose on 27 Nov 2017
A country’s global credit ratings throw light on its financial capacities along with long term Growth Prospect. Moreover, it was only late last night when Standard & Poore Global ratings agency declared to downgrade long term local currency rating of South Africa to junk status with a stable outlook. Adding more to country’s woes, Moody’s also placed the country on review to be downgraded. While this can be taken as a surprise in the wake of more stable inflation figures, it has now taken as a toll to allude people by former minister of finance Pravin Gordhan who was quoted saying at Daily Maverick’s “The Gathering’ event of the previous day that ‘Vote for Ramaphosa and you will not see any downgrades”. Gordhan’s activism can certainly been taken as a bagful of doubts since he’s been fired by President Zuma and therefore he wants to play down every ploy possible in order to market WMC’s propaganda by making Ramaphosa the next president.
It must be noted that no previous finance minister in the history of the ANC in government seems this anxious, outspoken and politically active in a new form of activism as Gordhan. Whenever a public gathering happens, he is present there. Now this is something you can call the real trigger of state capture. Just like Yesterday in that same sense he addressed a “Whites Only Affair”, chanting “vote for Ramaphosa and downgrades would be a thing of the past”. It then becomes relevant to ask why Gordhan is coming over being more concerned about SA economy. Shall we call it a natural reaction or a fabricated and provocative display of expression? It’s quite surprising as Gordhan was never so established in his first term as finance minister.
Gordhan seems like going too confident by the commentary of media based economists and saw it as an apocalyptic end of SA. The article further added, If we go back to the time when Gordhan has been fired from the Finance minister’s role at the end of March, we saw how rating agencies inserted themselves into our domestic politics. It is not far-fetched to conclude the downgrading of SA to junk status was nothing but the moral support rating agencies showed towards Gordhan at the time of his firing. It goes without saying if a country is downgraded as an investment destiny, its currency usually suffer with many ramifications. Gordhan, the communist politician therefore becomes the scripted messiah for our collective escape from doom, need I remind you a crafted doom fueled by a media that creates enough consternation in SA minds. On the other hand Gordhan equally becomes the automatic means for us to be a safe investment destination.
While Gordhan’s loyalty to these rating agencies is unmatched and in return, even they serve their part to him by creating a fake situation of financial crisis and pave the way to bring him back on board as the new finance minister, his lost legacy where he was cherishing his political dreams to further serve his bosses in WMC. By claiming Ramapohosa as the only solution to South African financial crisis, he is stating that until we get his own candidate on board, the country will keep perishing within this junk status. This is also the same Gordhan who is going gaga about the current parliament enquiry in claim of state capture which surely confirms his Evil Nature. Gordhan is loud and captures any platform on the state capture claim, yet Gordhan finds no challenge that 93% of Eskom’s annual procurement is spent on white owned interest companies. It strangely does not matter to Gordhan and many others in our discourse that the same is true of most state owned enterprises, SAA, Transnet, and Denel etc. The questions remains, why would this pharmacist and known activist from communist ideology find it comfortable and correct to perpetuate the apartheid gross economic access disparities immanent in black and white identities? Why is there no urgency to condemn companies like Glencore, BHP Billiton etc. why he can’t raise his voice in the same manner against ESKOM’s cost plus contracts with Big white companies ?
Now it can be said that it was only after his Daily Maverick address, Standard & Poore despite a better outlook on inflation decided to downgrade SA to junk status. Their quotations sound familiar and more towards serving Gordhan’s personal and political ambitions. Gordhan wants to show up himself as a savior to the country by ultimately playing the Messiah in his words. He knows that once Ramaphosa would beguaranteed the Presidential chair, his way towards being the Finance minister again will be cleared. Gordhan therefore by implication tells us when Nkosazana Dlamini Zuma is elected to lead; we must expect the junk status to continue. With this he appears to direct ANC branches into who to choose. Gordhan’s activism in this season remains questionable and he must know we see through it. The ANC must engage the actions of the rating agencies and that of Gordhan for what it means to South Africa.