Official

Thabo Mbeki has resigned. What happens now ?

Not sure what he was doing anyway, so if they had kept it a secret, things just would have been the same, hope it does not have an effect of national braai day on wed?

This is serious stuff. Thabo resigns and takes his troop with him. Country is very vulnerable right now . ANC will want to get ANYONE in their . Our economy might take a knock with Thabos's decision.

Chill El P, just concentrate on getting your mind right for the competition.

Hey Guys...in what race was he due to run and do you know when he'll be entered again?
Sounds like a good e/w bet...

LOL@Perpetual... I'mbacking Mbeki in the first.... {smile}

A third of SA cabinet resigns

September 23 2008 at 02:18PM

By Michael Georgy

More than a third of the South African cabinet, including the respected finance minister, resigned on Tuesday with President Thabo Mbeki, deepening the biggest political crisis since the end of apartheid.

The announcement that Finance Minister Trevor Manuel would resign shook markets and the rand tumbled on the news, but the currency regained its losses after his office said he was ready to serve under a new president.

The resignation of 10 ministers and the deputy president out of a cabinet of 30 came after Mbeki announced on Sunday that he was stepping down in the face of pressure from the ruling African National Congress.


Parliament is expected to choose deputy ANC head Kgalema Motlanthe as interim president on Thursday until a general election next year. Mbeki's resignation followed accusations of meddling in the graft trial of ANC leader Jacob Zuma.

Treasury spokesperson Thoraya Pandy said Finance Minister Manuel had "resigned as a member of the cabinet and felt duty bound to do so as he served at the pleasure of the president, and President Mbeki had resigned."

"However, the minister has indicated a strong willingness to assist and to serve the new administration in whatever capacity they may ask of him."

Along with the rand, the Top-40 index of blue-chip stocks regained some ground on the assurance that Manuel may stay, trading 2.8 percent lower after extending losses to more than four percent when the resignations were first announced.

Central bank governor Tito Mboweni will also stay on, his spokesperson said.

Nevertheless the resignations are likely to raise investor fears of political instability in Africa's biggest economy.

Zuma, who is expected to become president after next year's election, has tried to reassure foreign investors he would not bow to pressure from leftist union allies to shift away from business-friendly policies.

Zuma has made clear his backing for Motlanthe and pledged on Monday that the party would ensure a smooth transition and unchanged economic policy.

But the ANC is deeply divided by the long struggle between Mbeki and Zuma. - Reuters

How do we chill now Dave ?

I foresee Thabo forming another political party and we all should know what that could lead to.

Well we keep calm and vote for the party that will install lights and a new track at the big T, plus an all weather for the Cape. We must keep our focus and don't panic.

Did someone overlook the Health Minister's resignation ?

lol

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News out now indicates that Manuel may have been wrongly advised...his spokesperson says because he was appointed by Mbeki he felt duty-bound to resign but he and I assume most of the other cabinet ministers is prepared to serve under the new administration...so if the ANC wants to keep continuity Molanthe will in all probability re-appoint the majority of the members.