The showdown between 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
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Divisions within the ANC are deepening and a potential downgrade of South Africa’s debt rating to junk isn’t fully priced in by markets, according to Goldman Sachs Group. The rand slumped as much as 4,3% against the dollar on
Finance minister Pravin Gordhan was summoned to appear in court on fraud charges next month, the latest twist in a struggle with President Jacob Zuma that could cause South Africa’s credit rating to be downgraded to
It’s South Africa’s equivalent to the proverbial $640 Pentagon toilet seat — a paper binding machine that the government buys from its suppliers for the rand equivalent of almost R28 000, about 13 times what it costs in a store. Kenneth Brown, the nation’s 54-year-old
Finance minister Pravin Gordhan said the police investigation into him is nothing but “political mischief” and will be resolved soon. “As far as the so-called investigation is concerned, that’s no more than a bit of political mischief, which
Splits within the ANC may cause it to lose power at the next national elections in 2019, according to a senior cabinet member. “If the situation stays as it is, the risk of losing power is there,” Malusi Gigaba, the home affairs minister, said
The fundamental problem confronting South Africa today is a political culture that is defective and out of kilter with the needs of the majority of the people. Innovative thinking about transforming the economy is stunted by political
Alleged attempts to remove finance minister Pravin Gordhan from office have left AngloGold Ashanti chairman Sipho Pityana feeling jittery. “I lose sleep about attempts to remove minister
The recent period of fuel price reductions is set for a reversal as the weakening rand and stronger international petroleum prices combine to cause pain at the pumps. This is according to the Automobile Association, which was
The head of economic transformation in the ANC has backed finance minister Pravin Gordhan, saying charges relating to setting up an illicit tax surveillance unit are “concocted” and politically motivated