Finance ministry spokesperson, Mayiholme Tshwete says Michael Sachs has expressed an interest to move to other areas of government to continue serving the public in a different role.

This comes after Sachs resignation as the deputy Director General. He is reported to have quit over the Presidency’s alleged interference.

His resignation has been described as a huge blow to Treasury and the country, causing to the rand to plummet to its weakest level in a year.

It was trading at 14-rand-50 a short while ago.

Tshwete says Sachs is in a better position to give his reasons for the resignation.

“I don’t want to add to the panic and the instability by putting my two cents into speculation about his reasons. I think when he is ready he will speak about his reasons. Our priority as National Treasury is to communicate to the public that the institution is still strong, there are people there in the department that will continue the work of Michael Sachs.”