Deputy President Cyril Ramaphosa during a press conference made the following statement:
The President has effected his cabinet reshuffle. Before doing so, he met the ANC officials. It was just a process of informing us of his decision; it was not a consultation, because he came with a ready-made list. And I raised my concern and objection about the removal of the Minister of Finance; largely because he was being removed based on an intelligence report that I believe had unsubstantiated allegations about the Minister of Finance and his Deputy going to London to mobilise financial markets against our country.
Now that I find totally totally unacceptable that a person who has served our country with such distinction would do something like that. It reminded me of my own situation in 2001 when there was an intelligence report that said that I was involved in a plot to overthrow the government of then President Thabo Mbeki.
My strong objection to the removal of the Minister of Finance and his deputy is [that it is] based on spurious allegations and that is the basis of my objection. I told the President I would not agree with his reasoning for the removal of the Minister of Finance.
And I told him that I would articulate [this] publicly. So this is where we are. He has made his choice and let me say the President has the prerogative to appoint and dismiss ministers of his cabinet. It is his choice and he has exercised his choice.