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Fraud: South Africa ruling party to consider finance minister’s fate



South Africa’s ruling African National Congress (ANC) party will meet to discuss the future of Finance Minister Pravin Gordhan after he was summoned to court on fraud charges, a party spokesman said Wednesday.

The announcement on Tuesday that Gordhan would be prosecuted sparked investor fears that he would also be sacked — a move likely to spell further trouble for South Africa’s dire economic health.

Gordhan has alleged that the case against him is politically motivated, while many analysts say he has been targeted by loyalists of President Jacob Zuma.

The finance minister has been a vocal opponent of corruption and excessive spending by Zuma’s government, which has been hit by a series of graft scandals and slowing economic growth.Punch