for subscribers

Zuma-Gordhan war over finances approaches endgame

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Johannesburg - The showdown between South African President Jacob Zuma and Finance Minister Pravin Gordhan over control of the nation’s finances appears to be reaching its endgame, after prosecutors summoned the minister to appear in court next month on fraud charges.

While Zuma, 74, reaffirmed his support for Gordhan on Tuesday, opposition parties and analysts have speculated that the president intends using the case as a pretext to appoint a more pliant head of the National Treasury and the finance chief’s firing is imminent.

“The universal verdict of every serious commentator is that the National Prosecuting Authority has basically found some flimsy pretext to go after the finance minister,” Daryl Glaser, a politics professor at the University of Witwatersrand in Johannesburg, said by phone on Wednesday.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.18
(-0.70)
ZAR/GBP
21.82
(-0.24)
ZAR/EUR
20.02
(-0.34)
ZAR/AUD
12.09
(+0.06)
ZAR/JPY
0.16
(-0.36)
Gold
1853.04
(-0.11)
Silver
22.03
(+0.44)
Platinum
835.00
(+0.30)
Brent Crude
41.98
(+0.17)
Palladium
2194.00
(-0.39)
All Share
54247.81
(+1.84)
Top 40
50127.05
(+2.04)
Financial 15
9588.13
(+0.19)
Industrial 25
74229.70
(+3.26)
Resource 10
53508.98
(+1.08)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1357 votes
It depends on how the funds are used.
73% - 8806 votes
No. We should have gotten the loan elsewhere.
16% - 1941 votes
Vote