Molefe to be Minister of Finance - sources
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Cape Town - Reliable sources revealed to Business Report Online
that former Eskom boss Brian Molefe will be appointed as South Africa's
Minister of Finance.
This is in addition to a cabinet reshuffle being
definitely on the cards.
The high-placed sources cannot be named as the news is
not yet public.
"As many as 9 ministers will be replaced" the
source said confidentially.
This follows the news posted on Business Report Online
earlier that "President Zuma instructed current Minister of Finance,
Pravin Grodhan and Deputy Minister Mcebisi Jonas to cancel the international
investment road show to the UK and US and return to South Africa
After this news broke, IOL reported that the rand
fell by around 1.7 percent to the dollar after President Jacob Zuma called off
the international trip.
Read also: Gordhan to be recalled - sources
Gordhan, his deputy Mcebisi Jonas and business and labour
were on a week-long visit to the UK and US to drum up support for international
The international roadshow by Gordhan is one of the trips
he has been undertaking in the past few months to woo investors.
IOL also noted Gordhan’s recall intensified
speculation of a reshuffle in the Cabinet.
Molefe was widely tipped to have been sworn in as an MP
to replace Gordhan, who has seemingly raised Zuma’s ire by being at loggerheads
with the controversial Gupta family.
The Gupta’s are close friends of the president and have
been accused of state capture, which they have denied.