The African National Congress (ANC) and South Africa’s citizens should hold President Jacob Zuma to account for the “illogical and damaging” Cabinet reshuffle which led to the country’s credit rating being downgraded to junk status by Standard and Poor’s (S&P’s), the Chamber of Mines said on Tuesday. “The firing of a competent, dedicated and globally well respected Finance Minister Pravin Gordhan and other Cabinet changes, have materially negatively impacted the key institution of the National Treasury and ultimately the credit worthiness of South Africa’s government,” the CoM added.
