South Africa
South Africa’s state prosecutor dropped fraud charges on Monday against Finance Minister Pravin Gordhan, the latest twist in a police investigation that has rattled financial markets in the continent’s most industrialised economy.
Worries that Gordhan could be prosecuted or even removed from his job have also increased the risk that credit rating agencies would downgrade South Africa to “junk” status, undermining efforts to revive economic growth.
The rand gained as much as 1.6 percent against the dollar, while bonds firmed as the head of the prosecution service, Shaun Abrahams, read his decision.
Go to video
Botswana rejects controversial UK proposal on asylum-seekers
01:10
Springboks confirm their Test fixture list for the rest of the year
01:14
South Africa: Another loss for ANC to stop Jacob Zuma's MK party
01:44
BRICS Film Festival begins in Moscow
02:47
Unraveling the political threads: Inside South Africa's Complex Election Landscape
00:50
Nigeria recovers millions in corruption probe at key ministry