Gordhan to be recalled - sources

National Treasury announced that Finance Minister Gordhan, his deputy Mcebisi Jonas, director general Lungisa Fuzile, key National Treasury officials, and business and labour representatives would embark on a non-deal international investor roadshow this week. Picture: Reuters

National Treasury announced that Finance Minister Gordhan, his deputy Mcebisi Jonas, director general Lungisa Fuzile, key National Treasury officials, and business and labour representatives would embark on a non-deal international investor roadshow this week. Picture: Reuters

Published Mar 27, 2017

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Cape Town - Finance Minister Pravin Gordhan and his

deputy Mcebisi Jonas have been instructed to return immediately to South Africa

and cancel the international investment promotion road show to the UK and US.

This is according to high-placed sources, who cannot be

named because the reshuffle has yet to be made public.

It is expected that Gordhan will be replaced by Brian

Molefi as Minister of Finance. More cabinet reshuffling is expected.

Up to nine ministers might be replaced before the end of

March, sources confirmed to Business Report Online on Monday. 

This news comes as Gordhan is set to lead a high-level

delegation to the US and UK to meet credit rating agencies and investors.

Read also:  Gordhan unperturbed by Molefe reports

This latest round of international roadshows was a

follow-up to similar ones held last year where Team South Africa, made up of

the social partners of government, labour, and business, were able to convince

credit rating agencies and investors that they were working together to tackle

structural problems facing South Africa.

Molefi’s appointment as a Member of Parliament had raised

rumours that he was set to oust Gordhan, who has been said to be in the firing

line over his taking on the Gupta family, who are said to be close friends of President

Jacob Zuma.

The Guptas had been accused of capturing the state,

although this has been hotly denied by both the controversial family and Zuma.

BUSINESS REPORT

ONLINE

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