Finance Minister Malusi Gigaba is in the US on a mission impossible to meet with investors and Moody's Investor Service. The odds of reassuring investors and the rating agency that South Africa will not be a repetition of Venezuela's economic collapse are stacked against him.
Gigaba faces an uphill struggle in attempting to allay investor and rating agency concerns. Concerns that focus on a moribund economy crippled by political intrigue, instability and looting of state resources, further exacerbated by a clueless finance minister-in-training.
Even Gigaba's self-absorbed dandy dresser exhibitionism will not bewitch or captivate his audience. Rather, to paraphrase Tom Wolfe he will be seen as naked with little or no influence in attracting white monopoly capital, or a Moody downgrade.
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