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Mboweni’s come back as finance minister unpleasant for some

AS EXPECTED the appointment of Tito Mboweni as the new finance minister has not gone well with certain section of industry players’.

Mboweni’s come back as finance minister unpleasant for some

Welcome back Cde. Pres Cyril Matamela Ramaphosa welcomes Tito Mboweni as new finance minister on Tuesday in Parliament.

Such is the National Union of Metalworkers of South Africa (Numsa) that has denounced his appointment, saying the working class was “doomed”.

NUMSA listed its discomfort such as, being hostile to the working class majority, promoted the maintenance of high interest rates, amongst others.

Chiefly, NUMSA chairman Andrew Chirwa says Mboweni, during his tenure as Reserve Bank Governor, he “bent over backwards to champion neo-liberal macro-economic policies‚ of the governing party‚ the ANC. These disastrous policies have entrenched and empowered a small minority of White Monopoly Capitalists in the economy.”

“His presence in public office signals the ‘re-incarnation’ of the 1996 class project‚ which is anti-working class‚ and hell-bent on pleasing the markets and ratings agencies‚ whilst the working class majority are ravaged by squalor‚ living in poverty‚ subjected slavery wages and remain landless‚” added KwaZulu-Natal branch regional secretary Mbuso Ngubane.

However, other orgnaizations have welcomed his appointment and the rand improved significantly.

But Mboweni’s job will be tough in the coming months ie. to deal with the VBS Scandal, State Capture reports, PIC and other matters that have affected the growth of the economy, etc.

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