National Treasury director gen

SOUTH AFRICA – SEPTEMBER 14: Lungisa Fuzile, director general in the finance department on September 14, 2013, in South Africa. (Photo by Gallo Images / Business Day / Trevor Samson)

National Treasury director general Lungisa Fuzile has resigned

It’s going to hell in a handcart a bit.

National Treasury director gen

SOUTH AFRICA – SEPTEMBER 14: Lungisa Fuzile, director general in the finance department on September 14, 2013, in South Africa. (Photo by Gallo Images / Business Day / Trevor Samson)

News24 exclusively broke the news on Wednesday that National Treasury director general Lungisa Fuzile has resigned.

His aim is to leave the position by mid-May.

Fin24 reported that they were told Fuzile wrote his resignation letter to former Finance Minister Pravin Gordhan last week.

This was after Pravin Gordhan and his deputy, Mcebisi Jonas were fired from their leadership roles at Treasury.

Fuzile currently has a contract that runs until April next year, but he will not serve out that contract. Treasury confirmed the news in a statement.

“On continuity Fuzile says, his departure and that of his previous principals should not necessarily lead to a change of course as the mandate of National Treasury is reinforced by the Constitution and a number of other legislations, Fuzile says.

“He says, National Treasury officials are competent, highly skilled professionals who are very conscious of their higher duty. Their commitment and diligence is not attached to a Minister, and they will continue to serve the nation to ensure protection of the fiscus and the sound financial management in South Africa under the current leadership of Minister Malusi Gigaba and Deputy Minister Sfiso Buthelezi,” part of the statement read.

He said right now his main aim was to retain stability at Treasury and to ensure a smooth handover period.

This is likely to further negatively impact the country’s economy. One ratings agency has already given the country junk status, citing political instability as the reason. The rand has also been in a free fall since the rogue cabinet reshuffle last week.

Calls for Jacob Zuma to resign have grown stronger, but the ANC reiterated their support for the party – and the country’s – president on Wednesday, following a NWC meeting held the day before.

This is a developing story….