Political economist Dr Lumkile Mondi has raised concerns about who will head the Trade, Industry and Competition Portfolio.
This as the rand weakened for a third day on Wednesday, as traders awaited news on the appointment of a cabinet.
Markets Update:
President Cyril Ramaphosa is expected to make the announcement on his cabinet soon.
Mondi says he hopes someone with business knowledge will be appointed to create the required economic reform.
” We really would like to see someone who has a deep understanding and a history of relationship with capital, in this case with business. Because for us to reindustrialize, for us to be able to create those jobs that are important and therefore grow our economy as we build infrastructure to integrate into the African Free Trade Agreement, we need business orientated people. And I think there’s probably very few in the ANC therefore, we’ll look more on the DA’s side of it given what they’ve done in the Western Cape.
