Pravin Gordhan

Battle for SA’s finances rages on multiple fronts

The government appears to be at war with itself, as President Jacob Zuma and his Finance Minister Pravin Gordhan grapple for control of the nation’s finances. While Zuma has downplayed the conflict, saying “there is no war within government,” he’s undermined Gordhan’s authority by refusing to back him in stand-offs[…]

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Resilient SA economy can still avoid downgrade – Gordhan

Although growth my be challenging going forward, Finance Minister Pravin Gordhan said that growth will be above 0%. Gordhan was speaking at the Investment Summit, in collaboration with Sasfin Wealth, and publications Business Day and Financial Mail, in Sandton on Tuesday. The 3.3% growth achieved in the second quarter may[…]

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NPA could charge Gordhan and co this week – report

The National Prosecuting Authority (NPA) could charge Finance Minister Pravin Gordhan and three former SA Revenue Services officials this week, the City Pressreported on Sunday. According to the publication, the Hawks had concluded its investigations into corruption, fraud and illegal spying against Gordhan, former Sars commissioners Ivan Pillay and Oupa Magashula,[…]

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Gordhan off the hook

The Hawks have assured Finance Minister Pravin Gordhan he is not a suspect in their controversial SA Revenue Service (Sars) “rogue unit” investigation and that he would not be arrested. This is revealed in correspondence between the unit and Gordhan’s lawyers this week following sensational reports of the imminent arrest[…]

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Gordhan speaks out on arrest reports

Finance Minister Pravin Gordhan says reports of his alleged imminent arrest have been extremely distressing for him and his family. He said in a statement on Tuesday that he was not aware of any charges or further investigations until the reports surfaced over the weekend. The Sunday Times reported at[…]

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Zuma factor stymies Gordhan’s bid to rescue economy

Finance Minister Pravin Gordhan’s efforts to restore investor confidence in Africa’s most-industrialised economy and ward off a junk credit rating are being frustrated by the very man who appointed him to his post. President Jacob Zuma has spent the past five months lurching from one scandal to the next and[…]

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The case against Pravin Gordhan

If Finance Minister Pravin Gordhan were to be arrested and charged by the Hawks’ crimes against the state unit, it would likely be for contravening the country’s intelligence laws. The Sunday Times reported that Gordhan’s arrest was “imminent”. The Hawks had handed over their docket to the National Prosecuting Authority[…]

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SA Junk rating, a matter of time

It appears to be just a matter of time before South Africa’s credit rating is cut to junk. S&P Global Ratings will lower the nation’s rating to non-investment grade by the end of this year, according to 12 of 13 economists and analysts surveyed by Bloomberg. Four see the downgrade[…]

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Guptas’ Denel deal illegal

The controversial Gupta-linked deal by state-owned arms manufacturer Denel is close to collapse because due processes were not followed, Finance Minister Pravin Gordhan said on Wednesday, thus making the transaction illegal. Denel and VR Laser Services – a company in which the Gupta family and President Jacob Zuma’s son Duduzane[…]

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