THE AFRICAN National Congress has ruled South Africa for 23 years, ever since the end of apartheid and the first free election in 1994. Twenty-three years is a very long time in politics, and you would expect it to be losing power some time around now. But it was a
Gwynne Dyer: Squalid end in sight for ANC
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Jacob Zuma
Maybe it was associates inside and outside the government who persuaded him that Gordhan was the only thing standing between South Africans and prosperity.
Gordhan was seen by foreign investors (and many South Africans) as the only guarantee that Zuma would not turn the country into a feeding trough for his associates. The finance minister held the purse-strings tight, blocking government contracts that would have enriched them further. Now he is gone.
Deputy President Cyril Ramaphosa called the dismissal of Gordhan "totally unacceptable" and condemned "greedy and corrupt people" in a broadside clearly aimed at Zuma.
South Africa's currency, the rand, lost 5 per cent of its value on the foreign exchanges, but far more serious was the fact that one of the big ratings agencies, Standard and Poor's, downgraded South African bonds to "junk" status. If only one of the other two agencies follows suit, big international investors like pension funds will be obliged to dump their South African government debt, and the government will be unable to raise loans abroad.
The reactions against Zuma's action are so intense you would think he cannot just ignore them and carry on running the country into the ground. Unfortunately, he may be able to do just that, because real power within the ANC lies in the National Executive Committee, and he has devoted much attention to ensuring that most of the NEC's members owe him for past favours.
If he gets two more years in office, now with a pliable finance minister who allows the looting of the state coffers, the ANC will be discredited beyond hope of resurrection.
What comes afterwards may be better or it may be worse, but the familiar ANC-ruled South Africa will be gone.
Gwynne Dyer is an independent journalist whose articles are published in 45 countries.