Civil Rights organisations and some politicians called on South Africa to wear black . Trouble started when President Jacob Zuma reshuffled his cabinet firing five ministers, including the much loved Finance Minister Pravin Ghordhan and his deputy Mcebisi Jonas last week, sending the rand tumbling and the market into a frenzy.
NOT everyone supports Black Monday
And just incase you thought those who are against Black Monday supported Zuma
There has been mounting pressure fro President Zuma to step down. In fact, the ANC ANC Integrity Commission wants Zuma to resign. Three of the ANC’s top six Deputy President, Cyril Ramaphosa, ANC treasurer Zweli Mkhize, Secretary-General Gwede Mantashe have criticised President Zuma for the reshuffle.
If it interests you in anyway, in finance terms, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. This must get you wondering whose idea the black Monday was.
So far, ratings agency Standards and Poor’s has downgraded South Africa, another Moody’s has put the country at a negative outlook and the rand has depreciated 8% in value. But does this mean anything for South Africans?
Well, there is another protest or shutdown planned for Friday 7 April which seeks to put pressure for President Jacob Zuma to step down. But government has called on South Africans to discard the calls and go to work