JOHANNESBURG/PRETORIA South African Finance Minister Pravin Gordhan abandoned an investor roadshow and flew home on Tuesday on the orders of President Jacob Zuma, triggering speculation about his future that weakened the country's currency and bonds. He later told reporters that he was still the Finance Minister, but he would not explain why Mr. Zuma had ordered the cancellation of his investor roadshow.
Zuma has threatened our economy by dangling the possibility of firing Finance Minister, Pravin Gordhan, and his Deputy, Mcebisi Jonas, before the country, and before the world, by using a weird and seemingly last minute "security report" to justify such removals.
South Africa's Finance Minister Pravin Gordhan walks with his deputy, Mcebisi Jonas (rear), to a court hearing, Pretoria, South Africa, March 28.
Cape Town - President Jacob Zuma has summoned the rest of the ANC's top six to an urgent meeting in Pretoria.
Parliament hired Jacob Zuma, and Parliament must now fire Jacob Zuma.
Nomura analyst Peter Attard Montalto said in a research note on Wednesday that Zuma leaving presidential office early next year after the ANC conference was his "baseline" scenario.
"We objected both to the removal of the comrades as well as the intended replacements ... even the reasons given", Mapaila said referring to Gordhan and Jonas.
Mapaila said they will not allow the same thing that happen when former finance minister Nhlanhla Nene was sacked. Kathrada "found the current South African political leadership wanting on many fronts".
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Since the recall, speculation has been rife over whether Zuma planned to axe Gordhan and Jonas.
Zuma told the ANC leaders in a meeting on Monday that he wanted to dismiss Gordhan because he was aiming to sabotage the economy while the minister was holding a roadshow with investors in the United Kingdom and U.S. as a way of undermining the president, the person with knowledge of what happened at the gathering said.
He is seen as favouring his ex-wife, former African Union chief Nkosazana Dlamini-Zuma, to succeed him, ahead of Deputy President Cyril Ramaphosa.
The ANC has been experiencing one of its most hard periods since the end of white-minority rule, and some analysts say Zuma agreeing to leave early could heal some wounds.
Gordhan's supporters are uncertain about agreeing to promises on which Zuma could later renege, the two sources close to the matter said.
It comes on the same day the EFF said it is approaching the Constitutional Court to institute impeachment proceedings against President Zuma.
When asked if he was still finance minister, Gordhan responded confidently that he was and no resignation had been tendered.
Zuma, 74, did not attend Kathrada's funeral in Johannesburg, saying earlier he would respect the family's request for him not to attend.