South Africa's Cosatu urges Zuma to step down

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Wednesday 5th April 2017 09:14:14 in English News by Xarunta Dhexe
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    South Africa's Cosatu urges Zuma to step down

    South Africa's Cosatu urges Zuma to step down

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South Africa's Cosatu urges Zuma to step down

South Africa's largest trade union has joined calls for President Jacob Zuma to step down.

While the Congress of South African Trade Unions (Cosatu) had vigorously defended Zuma in the past, they now say they have lost confidence in him after hisdismissalof Pravin Gordhan, the finance minister.

The sacking in the early hours of Friday has had serious consequences for the country's economy and deepened the rift within the ruling African National Congress (ANC).

"The time has arrived for him [Zuma] to step down and allow the country to be led forward by a new collective at a government level," Cosatu said in a statement.



 

Cosatu is in an alliance with the ANC and the South African Communist Party, which already called for Zuma’s resignation last Friday.

But ultimately Zuma's fate rests with the ANC.

Since Gordhan’s dismissal, a leading financial agency S&P Global Ratings hasdowngradedSouth Africa's credit rating to "junk" status. They blame political uncertainty and the abrupt sacking of Gordhan.

This has added pressure on the ANC's top officials, many of which remain divided on Zuma.

OPINION: Even if Zuma goes, South Africa will remain divided

Zuma himself, in his first public comments since he dismissed Gordhan, said that fiscal policies would be unchanged and that people should remain calm.

In a bid to reassure markets, Zuma said he expected the addition of "many young ministers" to "add renewed energy into cabinet and the executive".

As the South African currency continues to lose value, higher borrowing costs also mean the government will have less money for investment projects aimed at stimulating the sluggish economy.

source:-aljazeera
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