BREAKING NEWS: Head of Treasury Fuzile confirms he has resigned after 19 Years
National Treasury director general Lungisa Fuzile has officially resigned and will aim to leave the position by mid-May, he confirmed in an interview with News24.
Fuzile noted it was the prerogative of Gigaba to decide whether he should remain in his position for longer or shorter than he requested but that his current aim was to retain stability at Treasury and to ensure a smooth handover period.
Analysts believe that his resignation could lead to another major knock to the the country’s already struggling economy warned, as international investors desperately try and find continuity in the market and good governance at key state institutions.
There are also concerns that Fuzile’s departure could lead to a mass exodus of staff from Treasury as those loyal to Gordhan leave, taking invaluable skills with them and further destabilisng the hand-over of Treasury to incoming minister Malusi Gigaba.
Fuzile was part of the investor roadshow to London that was cut short on the orders of Zuma. The trip was led by former finance minister Pravin Gordhan but ended abruptly when Zuma ordered Gordhan to return home “immediately” without giving a reason.