A bad week for Gwede Mantashe
The energy minister can’t dodge responsibility for failing to renew a licence that helps keep the lights on
A good week for Lesetja Kganyago
Lesetja Kganyago, even when he occasionally smiles, resembles one of those tough hombres from old Western movies. As governor of the Reserve Bank, protecting the nation’s currency, he has to be. He is assailed from many sides, especially by the financially illiterate who think the Bank can create riches by cleaning up the town as if QE is the OK Corral. In the face of more power cuts, the Bank made a brave move raising its repo rate by a quarter of a percentage point to 7.25%. It was less than expected, but keeps that other baddie, inflation, from taking over the town.
A bad week for Gwede Mantashe
Gwede Mantashe has been reminding anyone who would listen that he is not the minister responsible for Eskom. But he can’t dodge responsibility for failing to renew a licence that helps keep the lights on. A few days before Christmas an energy agreement between South Africa and the US on nuclear co-operation expired. Without it, Westinghouse, the US corporation, is not allowed to supply Koeberg with nuclear fuel. Was it just age, forgetfulness or neglect? Does Mantashe need his memory jogged that the mining cadastre deadline is this month — and that that is also his responsibility?