Reactions on firing of South Africa's Finance Minister Pravin Gordhan
2,522 views · Published 1 April 2017 · 5:38 · Indexed 21 September 2026
Channel: CGTN Africa · 2017 · News & Politics
South Africa's President Jacob Zuma has appointed Malusi Gigaba as the country's finance minister. The former home affairs minister takes over from Pravin Gordhan after days of speculation that Gordhan would be replaced. An intelligence report accused Gordhan of undermining the government and holding secret meetings with investors. South Africa's rand and government bonds tumbled following the late Thursday night cabinet reshuffle. Ratings agency Fitch said the cabinet shake-up heightened political risk and risks the country's sovereign investment-grade credit ratings. Zuma also made changes in energy, police and tourism among other ministries in the decision that was mostly received in shock. CGTN's Angelo Coppola now takes up the story from Johannesburg.
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