In less than a week, three ministers have succeeded each other at the head of SA’s ministry of Finance. On December 13, President Jacob Zuma has replaced minister of Finance David van Rooyen, four days only after his appointment with a well-respected minister who had already held this important position.

Pravin Gordhan (photo), who held this portfolio for five years till 2014, replaces the little known parliament member of ANC (ruling party).

President Zuma was pushed to reconsider his decision as he received various criticisms following announcement on December 9 of unexplained and sudden removal of well respected former minister Nhlanhla Nene, who public opinion believed to be competent enough. “I have received many representations to reconsider my decision. As a democratic government, we emphasize the importance of listening to the people and to respond to their views,” Zuma said.

Opposition and media however said Nhlanhla Nene was fired for being critical of Head of State. Indeed, few days ago, Nene opposed the signing of a deal between Airbus and South Africa Airways (SAA). This deal was initiated by Dudu Myeni, SAA’s president and close friend to Jacob Zuma.

The removal of Nhlanhla Nene,  first black South African minister of Finance, alarmed markets. On December 11, while the rand was hitting its lowest ever to R16.05 to the dollar and R17.58 to the euro, the Johannesburg Stock Exchange lost $10.68 billion in two days (10 and 11 December) as a result of a sales fever on the stock exchange.

This is the second time that President Jacob Zuma gives in to public pressure. In fact, last October, government renounced to increasing university fees after FeeMustFall protests. This time, the president was forced to reconsider his decision by an angry public opinion - A protest march planned for December 16, and ZumaMustFall petition signed by more than 130,000 people in few days -concerned about the South African economy.