Three of the top six officials of the ANC told President Jacob Zuma that they opposed his plan to fire Finance Minister Pravin Gordhan, a person with knowledge of the matter said. In a meeting on Monday, Zuma told the ANC leaders that he wanted to dismiss Gordhan because he was aiming to sabotage the economy while the minister was holding a roadshow with investors in the UK and US, as a way of undermining the President, the person with knowledge of what happened at the gathering said. That same day, Zuma ordered Gordhan to cancel the meetings and return home from London, causing the rand to plummet.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now