The dismissal of Nene caused a public outcry and a strongly negative reaction by international markets causing the rand to lose 10% of its value and the withdrawal of an estimated R180 billion from the Johannesburg Stock Exchange in the two days following the announcement. In addition to the public and opposition political parties the business community, COSATU and other trade unions, the Communist Party of South Africa, as well as many within the ruling ANC called for Zuma to reverse the decision. Four days after the announcement on 13 December a senior ANC delegation met with Zuma and told him to reinstate Nene or appoint former minister of finance Pravin Gordhan. A few hours later Zuma announced that van Rooyen would be replaced by the better known and trusted Pravin Gordhan. This event is thought to have increased the rift between Zuma and the rest of the ANC including Deputy President Cyril Ramaphosa, something that Ramaphosa denied. Ranjeni Munusamy of the "Daily Maverick" stated that this has exposed President Zuma as a ""weak leader who acted recklessly without proper advice"" indicating that the firing of Nene has greatly damaged Zuma's political standing. In 2019 testimony into government corruption at the Zondo Commission of Inquiry the chief director of macro-economic policy at the National Treasury stated that Nene's dismissal had an immediate and long term negative impact on the South African economy.