Dr Gumani Tshimomola
During a simulcasted radio interview with JJ Tabane, the Economic Freedom Fighters (EFF) Commander in Chief and President Julius Malema logically stated that the EFF would agree to a working relationship with the soon to be electorally defeated African National Congress (ANC) if the EFF Deputy President Floyd Shivambu is appointed as Minister of Finance and head of the National Treasury.
In response, reactionary and opposition political leaders, opinion makers and opportunists objected on ideological grounds and lack of comprehension of the role of the National Treasury, with some wrongfully suggesting that he does not have the capacity to lead the National Treasury.
Here we will illustrate beyond any sensible doubt that at this juncture, the EFF Deputy President is the most suitable and relevant candidate to lead National Treasury for both subjective and objective reasons.
This should be understood from the basis that he will be guided by the collective leadership, in line with the principles of the EFF, because no one becomes an executive authority alone and for their own sake.
As the longest-serving member of the Standing Committee on Finance over the past 10 years, spanning two full terms of Parliament, he has been instrumental in overseeing significant financial sector reforms and budget restructuring.
Throughout this period, he has consistently led meticulous oversight on strategic matters, contributing to substantial legislative submissions.
These include and are not limited to;
a) Substantive policy submissions on illicit financial flows, which have led to both the acknowledgement of the scourge of illicit financial flows and the establishment of the Inter-Agency Working Group on Illicit Financial Flows. This group includes the South African Police Services, the Hawks, the South African Revenue Services, the Financial Sector Conduct Authority, the South African Reserve Bank, and the Special Investigating Unit, originally proposed as the Cross-Agency Task Team by the EFF.
b) Influence on the Banks Act of 1990, which paved the way for the Financial Matters Amendment Bill. This bill amended the Banks Act to allow state-owned companies to apply for a commercial banking license, reflecting the EFFs forward-thinking approach to building state capacity and mechanisms to ensure the transfer of economic ownership to the majority of our people.
c) Advocacy for the Sarb amendment to nationalise the Central Bank, a move that, despite being a resolution of the ruling party, was retreated from due to cowardice.
d) Legislation on anti-tax avoidance, aimed at combating illicit financial flows, base erosion, and profit shifting. Through these efforts, the EFF has shown a deep understanding of the complexities of international finance and its implications for national economic security.
e) During the State of the Nation Address (Sona) debates and engagements, he made numerous inputs, including sound proposals for the establishment of a sovereign wealth fund, solutions to the electricity crisis, and the prescription of pension funds to prioritise the building of new industries and address the de-industrialisation of South Africa. These proposals highlight his comprehensive grasp of South Africas economic challenges and his innovative approaches to addressing them.
f) Made substantial policy inputs on the transformation of the financial services sector and to be more inclusive and reflective of South African society.
g) Actively partook in and gave sound guidance on various legislations including the Financial Services Amendment Act, the Insurance Bill, the Public Investments Corporation Bill and many other legislations that came to Parliament for deliberations.
All these and various other sound interventions he made on behalf of the EFF are evidence enough that he will be a square peg in a square hole. It is only narrow and selfish ideological prejudices that can object to these verifiable and objective facts.
Additional to Parliamentary responsibilities, the EFF deputy president is Head of the Governance Task Unit (GTU) in the EFF, which provides intimate oversight to more than 1,200 EFF public representatives in provincial legislatures and municipal councils across the country, including those deployed as members of mayoral committees and chairs of oversight committees.
This gives him intimate exposure to and knowledge of the functioning of government at provincial and municipal levels. This role completes his understanding of the overall functioning of government, enriching his perspective on national issues.
If academic credentials are anything to go by, the following constitute some of the post-graduate qualifications which are relevant for the role he is proposed to play:
a) Honours degree from the University of the Witwatersrand and a dissertation which su
