South Africa: Zuma under pressure to quit

But some analysts doubt that it will come to that.

Zuma, whose colourful private life has often overshadowed his status as the leader of Africa’s most advanced economy, has survived several political and personal scandals, including accusations by the opposition that he spent $23 million in state-funded security upgrades to his rural home. Zuma denies any wrongdoing.

“I don’t think that there is a huge likelihood that he will be recalled. If he had stayed on the course he set and stuck with van Rooyen, he would have been in more immediate danger,” Steven Friedman, director of the Center for the Study of Democracy, said.

“It looks like there are factions in ANC, and one faction pushed back on this appointment. Clearly there will be more of this competition that will steer policy as we go along.”

The ANC, which has a majority in parliament but has admitted to losing membership countrywide before local elections next year, backed Zuma, saying it had no internal divisions.

“The ANC remains one of the strongest brands. We don’t subscribe to a notion of a leader, we emphasise the notion of a collective leadership,” party spokesman Zizi Kodwa, rejecting any notion that the party was considering recalling Zuma.

The party won the 2014 national elections with a 62 percent majority, and dominates parliament, helping Zuma survive a motion of no in parliament confidence in March when the opposition wanted to remove him for mismanaging the economy.

Even if Zuma were to fall now, there is still little prospect of the ANC losing power.

The appointment of Zuma loyalist van Rooyen triggered a wave of criticism and a market sell-off that sent the rand plunging to a new all-time low on Friday as stocks also tumbled.

The currency rose 5 percent and shares gained as much as 2 percent on Monday, cheering Gordhan’s appointment.

OUT OF CONTROL

“I would be lying if I said I wasn’t shocked. It’s an indication of policy making that is really out of control,” said BNP Paribas Securities South Africa political consultant Nic Borain. “This is a leader who has gone beyond the extent of his powers and I think is in very dangerous territory.”

The opposition Democratic Alliance (DA) party said the president was playing Russian roulette with the economy.

“South Africa cannot continue to be led by a flip-flopping President who has complete disregard for the well-being of the country and its citizens,” said leader of the DA, Mmusi Maimane.

Analysts said it was still unclear what triggered a change of heart by the president to drop Van Rooyen on Sunday night.

State television SABC showed Zuma addressing party members on Sunday in the Mpumalanga province, where he made no mention of the looming changes. Some analysts believe pressure on Zuma may have come from within his party after the meeting.

Zuma may be safe for now, but his image has been dented and his trademark charisma and charm may not be enough to keep the ANC hatchet men at bay if he continues to disappoint them.

“I think from an investor’s point of view, this u-turn is hugely positive. The push-back by the market, part of the ANC and citizens forced this backtracking by Zuma,” said Friedman