President Jacob Zuma told senior leaders of the South African Communist Party (SACP) that he plans to fire Finance Minister Pravin Gordhan, according to three people with knowledge of the matter. The rand plummeted. Zuma told officials from the party, which is allied to the ANC, during a meeting on Monday in Johannesburg, according to the people, who were present and asked not to be identified because a public statement had not been made. Zuma ordered Gordhan to cancel meetings with investors in the UK and the US and return home on Monday, a day after he had flown to London to begin the week-long roadshow. A later meeting of the top six leaders of the ANC was to be held after the SACP gathering and it is unclear of what happened in that discussion. Zizi Kodwa, a spokesman for the ANC, said the people were misinformed. The rand weakened as much as 2.9% and was at R13.0043 to the dollar by 8:21am in Johannesburg. Speculation that Gordhan is on the verge of being fired has swirled for ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.