Bloomberg reports that labour federation Cosatu wants Finance Minister Tito Mboweni to practice what he preaches and retire, not because he’s too old, but because that they just don’t like him.  

When Mboweni was appointed in October to replace Nhlanhla Nene as finance minister, Cosatu made it clear it should only be a transitional move.  Michael Shingange, Cosatu’s first deputy president, commented on Tuesday:  “This is a man who says people who are 55 years old must retire because they are too old.  It would be a huge shock for us if Tito Mboweni was to avail himself to be the minister of finance (after the 8 May general election).”  Cosatu’s problem with Mboweni, who turned 60 last month, is not only his age, but the former central bank governor’s stance on state companies, which he says are over-staffed and should be sold off.  In his February budget, Mboweni proposed offering early retirement to state workers who were 55 and older to help cut the government wage bill.  The minister also said recently that it was time for old people to retire and for young people to run the country.  Another minister in Cosatu’s crosshairs is Public Enterprises Minister Pravin Gordhan.  While Gordhan, 70, was appointed to help restore trust and credibility in Eskom, load shedding and constant crisis-management at the utility showed that he was failing, according to Cosatu.

• Read the full original of the report on the above by Londell Phumi Ramalepe and Amogelang Mbatha at Fin24

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