South Africa rand falls after President Zuma sacks Gordhan

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South Africa's rand plunged more than 5% overnight after President Jacob Zuma sacked Finance Minister Pravin Gordhan.

Nine other ministers were sacked as the president overhauled his cabinet.

Mr Gordhan was seen by many as a bulwark against corruption in an administration that is facing growing criticism.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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