By Lehlohonolo Lehana.
Public Enterprises Minister Pravin Jamnadas Gordhan has announced that he will retire from active politics after this year’s general elections on May 29.
This comes as the African National Congress (ANC) had a special National Executive Committee (NEC) to finalise its list of candidates to serve in Parliament and provincial legislatures.
In an exclusive interview with Business Day, Gordhan shared his desire to prioritise his family and health, saying that he would no longer be available to be on the ANC’s party list of electoral candidates.
Gordhan said, despite his decision to step down from active politics, he would remain a loyal member of the ANC.
He joins Minister of International Relations Naledi Pandor and Speaker Nosiviwe Mapisa-Nqakula, who have already said they will retire from politics after the May 29 polls.
Gordhan, who won plaudits for his fight against state capture during his tenure as finance minister under former president Jacob Zuma, was previously the Commissioner of the South African Revenue Service.
He has served as minister in various portfolios, including Cooperative Governance and Traditional Affairs and Public Enterprises.
Gordhan has come under fire from some quarters for his handling of struggling state-owned enterprises, especially for the deal for the Takatso Consortium to take a 51% share in South African Airways.
The deal was shrouded in secrecy after former Director-General Kgathatso Tlhakudi accused Gordhan of corruption in the deal.
At the ANC national conference in 2022, Gordhan did not receive enough branch nominations to be a member of the party’s national executive committee.
Despite this, he remained a part of President Cyril Ramaphosa’s cabinet.
Renowned economist Dawie Roodt said Gordhan is the worst Finance Minister South Africa has ever had, and he is partly to blame for the mess at the country’s state-owned enterprises (SOEs).
Roodt said Gordhan should be blamed for the poor state of South Africa’s fiscal accounts.
Although there were many reasons for South Africa’s rising fiscal deficit, Gordhan was the minister who put it all in motion.
Under his leadership, South Africa’s debt-to-GDP increased tremendously, undoing the good work of his predecessor, Trevor Manuel.
Manuel significantly reduced the country’s debt-to-GDP, which points to good and responsible fiscal policies.
However, after he handed the reins to Gordhan, matters quickly changed. He gave huge increases to civil servants and gave billions to SOEs.