Who is Pravin Gordhan?
• Trained and worked as a pharmacist in Durban
• One of the main negotiators in the drafting of South Africa’s democratic constitution from 1991-1994
• Ran South Africa’s revenue service from 1999-2009
• Served as finance minister from 2009-2014
• Re-appointed finance minister in 2015
But the new finance minister has a hard job with unemployment currently above 25%, growth sluggish and credit rating agency Fitch recently downgrading South Africa to one notch above “junk” status.
The brief tenure of Mr van Rooyen and the uncertainty it caused may have damaged South Africa’s reputation further, analysts say.
Mohammed Nalla, head of research at Nedbank Capital, said having a finance minister serve just a few days did not bode well.
“International investors are probably thinking: ‘Why didn’t the president make a much more considered decision in the first place?'” he said.