Malusi Gigaba on a mission to win investors’ trust

Malusi Gigaba will have to convince international investors of his ability to be finance minister after the country was downgraded to junk status.

FILE: Finance Minister Malusi Gigaba. Picture: Reinart Toerien/EWN.

JOHANNESBURG - Malusi Gigaba will have to convince international investors of his ability to be finance minister after the country was downgraded to junk status, a week after his predecessor Pravin Gordhan was axed.

Gigaba has embarked on an international road show in a bid to restore confidence in South Africa.

He will meet his global counterparts at the International Monetary Fund (IMF)/World Bank meeting in Washington DC, investors in Boston and New York and ratings agency Moody’s which has the country on watch for a downgrade.

Economist Azar Jammine says Gigaba will have to talk about his personal ability and his plans to grow the economy.

“But more than that he’s got a huge problem in trying to allay scepticism surrounding his stigma associated with State Capture and corruption. That I think is even a more difficult challenge to overcome as concerns about whether or not he can do the job.”

WATCH: Gigaba: I knew credit rating downgrade was coming

(Edited by Zamangwane Shange)