Zuma removed Nene from the Finance portfolio in Cabinet, and replaced him with ANC member of parliament David Van Rooyen.
The news sent the rand plummeting against major currencies, hitting R15.15 to the US dollar, its lowest ever, shortly after the announcement.
The rand was trading at R22.75 to the British pound, and at R16.54 against the Euro at 22:00 on 9 December.
The decision to remove Nene was widely criticized by business people, economists, and other political parties.
Democratic Alliance leader Mmusi Maimane said removing Nene was a reckless and dangerous move, which will further damage the country’s economy.
“Accompanied by no reasons for such a drastic move, one can only conclude that tonight’s action is yet another example of how President Zuma puts himself first and the country second,” said Maimane.
Maimane said Nene tried to reign in excessive government spending, which caused a block when it came to the nuclear procurement deal and SAA spending.
The EFF said Zuma appointed Van Rooyen because the new minister “will not stand up to him when he wants to do wrong things”, and because Nene “refused illegal instructions from Zuma and his friends in both business and state-owned enterprises”.
UDM leader Bantu Holomisa said he was not surprised by the decision, as the ANC leadership was “morally corrupt and intellectually challenged”.
Economist Cees Bruggemans said the decision to replace Nene means South Africa will reach junk status next.
He said it also means that the nuclear deals will be approved, that SAA will go bankrupt, and the rand will hit R20 to the US dollar.
Bruggemans joked that the new forecast for the rand for 2016 is “moer toe” – an Afrikaans term for destroyed.
Companies editor at Business Day TV Giulietta Talevi said “not to be rude or pessimistic or anything, but Jacob Zuma has just fucked us”.
THINK people THINK. Your preference to just pick up slogans from lying mass media and utter them as if you know what you are talking about has been taken advantage of by the extreme left. Your apathy is leading us into a Marxist World Supremacy.
Collectivism has never worked and never will. If you feel like a lemming and want to commit suicide, feel free. BUT you have NO right to drag me or my people or my family or my culture or my nation or my heritage or my traditions or my race over the cliff with you! And I will fight to the death before I allow you to drag me over the cliff…
Obama will get his wish and there will be civil war in the streets of America, and all other countries then they can implement a police state and force America to merge with Canada and Mexico and build their One World State or whatever region it is.
Anti-racism has gone to the extreme and been deliberately radicalised so much so it has removed the NATURAL defenses a nation and race have. Whites are happy to become extinct and commit suicide and be genocided. Do you see any other race that has been subjected to this hatred and propaganda? ALL races should be worried if one race is targetted because their race could be next. Mixing everyone into one big brown melting pot IS NOT DIVERSITY. It is the wilfull destruction of diversity and puts the survival of mankind at risk.
Not that I expect logic or common sense from a brainwashed world… but look at the disgusting fake world around you… how long before you realise you have been taught to blame the same people for half a century yet nothing is changed.
by Don Deon