Many analysts believe the president wants to replace Pravin Gordhan
South Africa’s main opposition Democratic Alliance (DA) has issued a statement calling on the president to explain what it describes as “the bizarre recall” of the country’s finance minister from a foreign investment trip to London (see previous entries).
It called the decision “a major setback for the economy in South Africa”, where the rand has fallen by as much as 1.7% amid speculation over the move.
The DA said:
The instruction to cancel the international investor roadshow without explanation is so bizarre that it appears, at best, calculated to humiliate the minister or, at worst, to suggest that the minister is about to be fired in a cabinet reshuffle.
Whatever the case the instruction to cancel the international investor roadshow could not have come at a worse time as the minister battles to restore investor confidence among international investors in one of the financial capitals of the world.
Pravin Gordhan’s appointment as finance minister was intended to restore confidence after President Zuma sacked his two predecessors in the space of five days in 2015.
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