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Fiscal policy won't change - Zuma

Economy

Johannesburg - South Africa's President Jacob Zuma said on Tuesday the country's fiscal policy would remain unchanged.

This comes after his cabinet reshuffle.

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President Jacob Zuma

He also assured that his ministers would reach out to international investors to assure them of this after S&P downgraded the country's credit level to "junk".

Zuma dismissed the respected Pravin Gordhan as finance minister in a midnight cabinet reshuffle on Thursday that shocked local markets and triggered protests from within his own party, business and opposition parties.

Read also: Who is our new Finance Minister?

The rand pared some its losses after Zuma's remarks in a speech at a function held at state-owned Transnet. 

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