S African fi­nance min­is­ter to be pros­e­cuted on fraud charges

The Myanmar Times - - International Business -

SOUTH African Fi­nance Min­is­ter Pravin Gord­han will be pros­e­cuted for fraud in a move that sent the rand tum­bling over con­cerns about po­lit­i­cal in-fight­ing and the coun­try’s frag­ile econ­omy.

Mr Gord­han, an in­ter­na­tion­ally re­spected tech­no­crat, was ap­pointed only last year to calm pan­icked in­vestors after Pres­i­dent Ja­cob Zuma sacked two fi­nance min­is­ters within four days.

Since then, Mr Gord­han has reg­u­larly clashed with Zuma loy­al­ists when vow­ing to bat­tle poor gov­er­nance and graft in a gov­ern­ment that has been en­gulfed by reg­u­lar cor­rup­tion scan­dals.

Mr Gord­han was sum­moned to ap­pear in court in Pre­to­ria on Novem­ber 2. Shaun Abra­hams, head of the Na­tional Pros­e­cut­ing Au­thor­ity (NPA), said Mr Gord­han would be pros­e­cuted for al­leged mis­con­duct over a re­tire­ment pack­age paid to a col­league in 2010.

Mr Gord­han is widely seen as en­gaged in a months-long bat­tle with the rul­ing African Na­tional Congress (ANC) party of­fi­cials over con­trol of the trea­sury.

He has of­ten clashed with Mr Zuma and se­nior min­is­ters over al­leged ex­ces­sive spend­ing, par­tic­u­larly at cash-bleed­ing state-run en­ti­ties such as South African Air­ways. –

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