SA Chamber Statement on Finance Minister Dismissal

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The South African Chamber of Commerce UK deeply regretted the negative impact on business and investment that the removal of South Africa’s respected Finance Minister Nhlanhla Nene had on the South African currency although we applaud the decision to ultimately replace him with the highly respected previous Finance Minister Pravin Gordhan. While the resultant further weakening of the rand will make South African exports cheaper – and imports more expensive – it will continue to have an overall negative impact on business confidence, two-way trade and much-needed foreign direct investment. The SA Chamber will do everything in its power to ensure that the wheels of business and investment keep turning under these very challenging conditions.

Melissa Powys-Rodrigues
Chairperson, South African Chamber of Commerce