South African President Orders Finance Minister To Abort Investor Roadshow

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Published Mar 28, 2017

South African President Jacob Zuma ordered Finance Minister Pravin Gordhan to abort a week-long roadshow meeting with investors and rating companies in London and the U.S., heightening concern that he's preparing a cabinet reshuffle. Gordhan, who left South Africa to lead a delegation said by phone that he was carrying on with his plans to meet investors in London. Speculation that Gordhan is on the verge of being fired has swirled for months, as he clashed with Zuma over the management of state companies and the national tax agency. While Gordhan has led efforts to keep spending in check and fend off a junk credit rating, Zuma wants to embark on "radical economic transformation" to tackle racial inequality and widespread poverty. Treasury spokeswoman Yolisa Tyantsi referred queries to the Presidency when contacted by text message and email.