This could just be the first time the former deputy minister of finance mr Jonas will be speaking publicly after his unceremonious exit from his post alongside his boss Pravin Gordhan.

He was speaking at the annual Mapungubwe Institute for Strategic Reflection (Mistra) lecture held at the University of Johannesburg on Tuesday night on the topic of radical economic transformation and what it means.

“The reality is that it is becoming ever more difficult to subject radical economic transformation to … democratic‚ public reasoning‚” he said. “Policy positions are seen as proxies for factions‚ which themselves are cast as representatives of competing elites. No wonder we are losing credibility day by day‚” Jonas said.

He warned that populism and factions would be damaging in the run-up to the ANC elective conference in December.

Jonas said populism encourages a range of ideologies‚ left and right. He further linked the loss of credibility to poor leadership and strategy.

Jonas said the party had lost that ability in recent years‚ adding: “how do we recoup that?”

“It is a very difficult scenario when the ethical and moral credibility of leadership is not that strong‚” he said.