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Gordhangate all about access to Treasury - economist

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Cape Town - The issue about the latest step against Finance Minister Pravin Gordhan is access to the National Treasury and the ability of factions within the ANC to control it and use its powers to win the elective conference in December 2017.

That ultimately would require the removal of Pravin Gordhan who has defended the institution’s conservatism and independence, emerging markets economist Peter Attard Montalto of Nomura said on Tuesday.

The news that Gordhan has been issued with a formal summons to answer charges of fraud is only a small cog in a much larger and existential succession battle within the ANC, in his view. This succession "war" will continue until the end of 2017 and dampen investor confidence and growth.

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