David Cameron's 'honourable' resignation should be a lesson to Zuma: Maimane

British Prime Minister David Cameron’s decision to step down follow last week’s historic “Brexit” vote should serve as an example to President Jacob Zuma‚ Democratic Alliance leader Mmusi Maimane said on Sunday morning.

Speaking at a press conference in Durban‚ Maimane said that the “Brexit” vote — which will likely see‚ within two years‚ the United Kingdom leave the European Union — would hurt South Africa’s economy. He said the situation was made worse because the country’s economy was being “bogged down” by Zuma’s lack of leadership‚ policy indecision and corruption.

“The Prime Minister [David Cameron] did a very honourable thing. He decided to step down…when he realised that he had lost the mandate of the people. That’s a key lesson for our own president‚ that if you lose the mandate of the people or violate the Constitution‚ you should step down‚” he said.

In a statement issued on Friday‚ the Presidency said that the UK would remain an important trading partner for South Africa despite the vote. In 2015‚ the UK was South Africa’s 8th largest trading partner‚ and exports to the UK totalled R41-billion. Imports from the UK were R35-billion.

“The National Treasury and the SA Reserve Bank have been in discussions with financial institutions on the possible implications for the South African economy. Our banks and financial institutions are well positioned to withstand financial shocks to the system as demonstrated in previous episodes including the 2008/09 global financial crisis. We are therefore confident that our financial system including the banks and the regulatory framework are extremely resilient and reliable‚” the Presidency said.