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South African currency plunges after Jacob Zuma fires finance minister in cabinet purge -

South Africa's currency plummeted on Friday after President Jacob Zuma fired his finance minister in a Cabinet reshuffle that spooked investors and raised concerns about the management of the country's economy. Mr Zuma, 74, who has been under pressure ...and more »

Firing of South Africa's Finance Minister Widens a Political Rift - New York Times

JOHANNESBURG — The two rival factions inside South Africa's governing African National Congress attacked each other publicly on Friday after President Jacob Zuma abruptly fired a well-respected finance minister who was considered a bulwark against ...and more »

South Africa leaders divided after President Zuma sacks Gordhan - BBC News

South Africa's Deputy President Cyril Ramaphosa has described the sacking of Finance Minister Pravin Gordhan as "totally unacceptable". His late night dismissal on Thursday led to a 5% plunge in the value of the currency, the rand. Mr Gordhan was seen ...and more »

South African President Jacob Zuma's midnight reshuffle throws ruling ANC party into crisis - The Independent

South Africa's Jacob Zuma has taken the biggest political risk of his scandal-hit presidency, sacking the locally and internationally well-regarded finance minister Pravin Gordhan in a dramatic midnight Cabinet reshuffle. By taking the unusual step of ...and more »

Rand, banks and bonds hit as Zuma fires Gordhan - Financial Times

South African president Jacob Zuma's dismissal of his well-regarded finance minister Pravin Gordhan triggered a sharp market reaction on Friday as bond yields jumped and bank shares declined. The rand was on course for its worst week since 2015, down ...and more »

Zuma fires Gordhan as Treasury chief as he reshuffles cabinet - Financial Times

President Jacob Zuma has dismissed Pravin Gordhan as his finance minister, threatening further turmoil for South Africa's fragile economy and setting the stage for the biggest crisis yet for the ruling African National Congress under his leadership. Mr ...and more »

South African Assets Tumble as Gloom Pervades Fiscal Outlook - Bloomberg

South African bank stocks tumbled and bonds plunged as the rand headed for its biggest weekly slide since 2015 after the firing of Finance Minister Pravin Gordhan raised concerns about the country's fiscal path and its investment-grade credit rating.and more »

Fallout from South Africa's ministerial 'massacre' - BBC News

It was the night of the long knives when President Jacob Zuma sacked the finance minister against the wishes of his senior party leaders. Some say he has chosen a path down to the abyss by removing the much respected Pravin Gordhan from the treasury.and more »

Cabinet Reshuffle: The Boot For Pravin Gordhan, Checkmate For Jacob Zuma - The Inquisitr

On Thursday, South Africa's president, Jacob Zuma, gave nearly 20 ministers and deputy ministers their marching orders in a merciless late-night cabinet reshuffle. Among the casualties were the Minster of Finance, Pravin Gordhan, and his deputy ...and more »

Gordhan: Zuma's reasons for firing me 'absolute nonsense' - Eyewitness News

Pravin Gordhan and Mcebisi Jonas were among five ministers and two deputies who were fired by President Jacob Zuma in a Cabinet reshuffle. FILE: Pravin Gordhan. Picture: GCIS. President Jacob Zuma · Jacob Zuma · Pravin Gordhan · Cabinet reshuffle ...and more »