Jacob Zuma is due to step down as head of the ruling African National Congress in December and as president in 2019. Photo: ReutersJohannesburg: South African President Jacob Zuma ordered finance minister Pravin Gordhan to abort a week-long roadshow meeting with investors and rating companies in London and the US, heightening concern that he’s preparing to change his cabinet. The rand plunged after Zuma told Gordhan and his deputy, Mcebisi Jonas, to cancel the roadshow and return to South Africa. The rand weakened as much as 1.9% against the dollar and was 1.6% weaker at 12.6299 at 2:23 pm in Johannesburg. “Zuma is watching for any foot fault by Gordhan and Jonas to have a pretext to fire them.

Source: Mint March 27, 2017 13:52 UTC