Change brings hope

Janine Myburgh, president of the Cape Chamber of Commerce and Industry

The Cape Chamber of Commerce and Industry hopes the appointment of the former Reserve Bank governor Tito Mboweni as the new finance minister will bring some stability to South Africa’s finances.

It will be a very difficult job with most of the state-owned enterprises in a state of virtual bankruptcy and little prospect of the economic growth we desperately need.

Mr Mboweni has a solid background and he earned respect as gover-nor of the Reserve Bank, but the new chal-lenge will be the ultimate test.

The post of finance minister had been bedevilled by politics in recent years, so it is to the country’s advantage to have someone in the position who has not been involved in the political scrap.

What we need now is clear financial planning and not political thinking.

There will be some very difficult decisions ahead, especially on the future of the SOE’s. We wish him well and we can assure him of the support of business as he tries to steady the ship and get South Africa moving.