President Jacob Zuma told senior leaders of the South African Communist Party 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 his ruling African National Congress (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 has not been made. He didn’t say when he planned to fire Gordhan.
Zuma, 74, 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. Asked about reports that he may be fired after he landed on Tuesday in Johannesburg, Gordhan said, “I’ve just landed so let’s wait and see.”