Monday, October 31, 2016

South African Judge Drops Fraud Charges Against Finance Minister, Says It’s Politically Motivated

South Africa's chief prosecutor has dropped fraud charges against Finance Minister Pravin Gordhan.
Mr Gordhan had described the allegations as without merit and politically motivated.

News of the charges earlier this month rattled the financial markets and the South African rand fell more than 3%.

The finance minister has been seen as standing up to President Jacob Zuma in cabinet and has warned against corruption becoming rampant.

He was appointed for a second stint in the job late last year after the president's preferred candidate lasted just a few days.

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