Manuel 'available to serve new govt'
23 September 2008
Finance Ministry spokesperson Thoraya Pandy has confirmed that while both Finance Minister Trevor Manuel and his deputy, Jabu Moleketi, have tendered their resignations, they will be available to serve the new administration.
"They are both appointed by the President of the Republic to serve the country and are duty-bound to resign given the resignation of Thabo Mbeki," Pandy said.
"They both, however, want to make it clear that they are ready to serve the new administration in any capacity that the incoming President deems fit.
Local markets plunged almost immediately following Tuesday morning's news of the resignation of 14 Cabinet members, including Manuel and Moleketi, with the JSE's All Share index dropping 4 percent - although it then rebounded - and the rand giving up 25 cents to the US dollar.
"To put it into perspective, it's not a doomsday scenario ... but the markets have reacted strongly and investors are likely to watch the situation carefully," Econometrix economist Russell Lamberti told BuaNews.
14 Cabinet members resign
The Presidency confirmed on Tuesday that it had received letters of resignation from 10 of South Africa's Cabinet ministers, three deputy ministers and Deputy President Phumzile Mlambo-Ngcuka.
The resignations will take effect on Thursday, along with that of outgoing President Thabo Mbeki, whose resignation was accepted by a majority vote in the National Assembly in Cape Town on Tuesday morning.
Mbeki formally resigned as President of South Africa on Sunday after being asked to do so by the national executive committee of the ruling African National Congress (ANC).
The following Cabinet members have resigned:
- Deputy President Phumzile Mlambo-Ngcuka
- Defence Minister Mosiuoa Lekota
- Finance Minister Trevor Manuel
- Minister in the Presidency Essop Pahad
- Intelligence Minister Ronnie Kasrils
- Correctional Services Minister Ngconde Balfour
- Public Enterprises Minister Alec Erwin
- Science and Technology Minister Mosibudi Mangena
- Public Works Minister Thoko Didiza
- Provincial and Local Government Minister Sydney Mufamadi
- Public Service and Administration Minister Geraldine Fraser-Moleketi
- Deputy Foreign Minister Aziz Pahad
- Deputy Finance Minister Jabu Moleketi
- Deputy Correctional Services Minister Loretta Jacobus
The Presidency said in a statement that Cabinet regretfully had to accept the resignations.
"All the ministers have expressed their availability to assist the incoming administration in the hand-over process and any other assistance that might be sought from them," the Presidency added.
In the statement, Mbeki thanked the Deputy President, the ministers and the deputy ministers for their dedicated service to South Africa and wished them well in their future endeavours.
Source: BuaNews
