The Minister of Finance, Malusi Gigaba, appeared to have distance himself from his economic advisor, Professor Chris Malikane, who’s mad ideas on the economy had shaken investor confidence, ahead of an international investor roadshow in the United States.
The minister was forced into damage control mode reassuring investors that it was not government policy to nationalize banks and publically slapped down Professor Chris Malikane like a schoolboy in a way that suggested his days were numbered.
However, nothing could be further from the truth because it has now emerged that Professor Chris Malikane accompanied the minister on the international investor roadshow in the United States.
This morning the minister’s spokesperson, Mayihlome Tshwete, posted pictures on social media of the minister and his economic advisor engaged in a convivial conversation at the International Monetary Fund in the United States. [here, here and here]
The minister’s “roadshow message”, released by National Treasury, includes a commitment to “inclusive growth, prudent fiscal discipline and sound economic policies”.
But Professor Chris Malikane’s presence sends exactly the opposite message and will be a major red flag to international financial institutions, international investors and rating agencies in the United States.
In the end, the fact that the minister invited Professor Chris Malikane to accompany him on the international roadshow raises serious questions, not only about his judgment, but also about whether he can be trusted to act in the best interests of South Africa