Banking index up 15% after Gordhan appointment | Fin24
 
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Banking index up 15% after Gordhan appointment

Dec 14 2015 09:54

Johannesburg - Shares in South Africa's banking index soared 15% on Monday after President Jacob Zuma appointed Pravin Gordhan as the new minister late on Sunday.

The index had lost as much as 19% since Thursday after Zuma fired respected finance minister Nhlanhla Nene.

Zuma then named Gordhan as the new finance minister in a dramatic U-turn that gave South Africa its third finance minister in less than a week.

banking  |  financial services
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