AS IT HAPPENED: Pravin Gordhan to appear in court to face fraud charges | Fin24
 
  • SAA

    The flag carrier has vowed to re-accommodate passengers after it cancelled flights to save cash.

  • Poverty Cycle

    South Africans are struggling to escape poverty due to low levels of social mobility, says the WEF.

  • Slowdown

    The International Monetary Fund has revised SA's growth outlook for 2020 down to just 0.8%.

Loading...

AS IT HAPPENED: Pravin Gordhan to appear in court to face fraud charges

2016-10-11 10:22

Get all the news, views and analysis following the announcement that Finance Minister Pravin Gordhan must appear in court to face charges of fraud.

pravin-gordhan large
LIVE NEWS FEED

Jump to
bottom

Last Updated at 11:04

11 Oct 20:26

The last word:

President Jacob Zuma has responded to the announcement by the NPA regarding the summons issued to Minister of Finance Pravin Gordhan.

Zuma, who is currently in Kenya, urged the NPA to carry out their work with dignity and respect.

“Our society is anchored on the rule of law as well as fair and just judicial processes. In this regard, Minister Gordhan is innocent until and unless proven otherwise by a court of law. This is a fundamental pillar of our constitutional democracy and the rule of law,” said Zuma.

The President reaffirmed his support for Gordhan, adding that the decision by the NPA came at the most sensitive time for the country, when Gordhan was successfully leading initiatives towards economic revival, bringing together business, government and labour in efforts to reignite growth so that jobs can be saved and created.


11 Oct 19:52

The issue about the latest step against Finance Minister Pravin Gordhan is access to the National Treasury and the ability of factions within the ANC to control it and use its powers to win the elective conference in December 2017.

That ultimately would require the removal of Pravin Gordhan who has defended the institution’s conservatism and independence, emerging markets economist Peter Attard Montalto of Nomura said on Tuesday.


11 Oct 19:37

Finance Minister Pravin Gordhan still had time to joke about a summons for him to answer to fraud charges on Tuesday at the Open Tender Seminar in Midrand:

- Not having found me at home, they (Hawks) proceeded to go to Treasury. I am not sure what happened there. Given fiscal austerity, they may not have been given a cup of tea.

- You and the public need to ask yourselves, what is this matter that is so urgent, that requires us as a country, 15 days before the delivery of the MTBPS? The last time this happened was before the February budget. There is something attractive about budgets, I’m not sure what it is.


11 Oct 19:30

Despite the shock news that Finance Minister Pravin Gordhan has been summoned to answer to fraud charges, the rand is unusually strong, says an economist.  



11 Oct 19:20

Gordhan moves to appease investors, ratings agencies

Strong message from Finance Minister Pravin Gordhan after he learnt from the summons to appear on charges of fraud.

"Our message to investors, and all people who want to assess our economic performance and fiscal performance, give us a year or so – South Africa can change, South Africa can adapt, South Africa can produce results, which will require something that will benefit all South Africans and not just a few."


11 Oct 19:08
LISTEN: Treasury reacting to Gordhan summons

11 Oct 19:05

From Gordhan's lawyers:

Gordhan's lawyers question Hawks, NPA motives

Adiel Ismail

Cape Town - The lawyers for Finance Minister Pravin Gordhan, Gildenhuys Malatji Inc, on Tuesday questioned the motive of the Hawks and the National Prosecuting Authority for serving a summons for Gordhan to answer to fraud charges at his home.

Summonses were also served on former Sars commissioner Oupa Magashula and former deputy commissioner Ivan Pillay.

Gildenhuys Malatji said they would have expected the Hawks to interact with them directly.

"We had repeatedly requested that the NDPP afford Minister Gordhan the opportunity to make written and/or oral representations before making a decision on whether to prosecute or not."

NPA boss Adv Shaun Abrahams, in particular, advised the lawyers in August that he will only consider the request to make representations to him on whether to initiate a prosecution or not once the investigation has been concluded and a docket has been submitted to the NPA, Gildenhuys Malatji said in a statement.

"It is surprising that we have received a letter dated 4 October 2016, but only sent to our office this morning (11 Oct) advising that Minister Gordhan is an accused person."

Sketching a timeline of sorts, Gildenhuys Malatji said they were initially advised in May 2016 that Gordhan is not a suspect, yet in August 2016, Gordhan was advised that he should give a warning statement which by its very nature meant that he is considered to be a suspect.

"At the time it was contemplated by the Hawks that Gordhan contravened the provisions of Sections 1, 34 and 81(2) of the Public Finance Management Act, 1 of 1999, that he was guilty of corruption in terms of Section 3, 4 and/or 10 of the Prevention of Corrupt Activities Act, 12 of 2004 as well as Section 3 of the National Strategic Intelligence Act, 39 of 1994.   

"These related to the establishment of the Sars investigative unit and the early retirement of Pillay."

Gildenhuys Malatji said the latest charges against Gordhan are charges of fraud, alternatively theft insofar as it relates to Pillay’s early retirement.

"Fraud is defined as 'the unlawful and intentional making of a misrepresentation which causes actual prejudice or which is potentially prejudicial to another'.  In order to succeed with proving the crime of fraud, the State must establish the elements of the crime which are defined as first, a misrepresentation, second, prejudice or potential prejudice to another, third, unlawfulness and lastly an intention to so prejudice," the lawyers said.

Gordhan is taking counsel on all available legal avenues to bring this matter to an expedited end, said Gildenhuys Malatji.


11 Oct 18:33

Black Business Council sees no political interference in Gordhan probe

Lameez Omarjee

Johannesburg – The Black Business Council (BBC) believes there was no political interference during the investigation leading up to the summons issued to Finance Minister Pravin Gordhan for fraudulent activities during his time at Sars.

The BBC said it viewed these developments in a “serious light”. “We respect the rule of law and furthermore expect the Chapter 9 institutions that regulate and ensure that nobody is above the law,” the organisation stated.  

“We trust that the Minister will have fair and just hearing, we believe that as a nation we should trust and allow our legal systems to take its due course.”

The BBC further indicated that the work by the presidency and finance ministry to avert a downgrade should continue. “We confirm our determination to work together with all social partners to avert further downgrades as they threaten and undermine our ambitions for a better tomorrow.”  

The BBC added that the National Treasury is an institution to be respected and supported to ensure that stability in the economy and financial markets is maintained. “We will continue to support policies and behaviours that support the stability of the country and its financial markets.”


11 Oct 18:15

National Treasury responds to summons for Gordhan

Minister Pravin Gordhan confirms that his office has received and signed for summons issued from the Hawks this morning. It is most unfortunate that the Hawks have, once again, chosen to initiate legal proceedings at a moment that appears calculated to maximise the damage inflicted on the economic well-being of South Africans and essential processes of government.

Minister Gordhan wishes to place on record that he will continue to cooperate fully and in an exemplary manner in the execution of all legal requirements that are placed upon him.

To this end, the Minister’s legal team have had extensive interactions with the Hawks over the last six months, including providing for clear communication channels in the event that any further legal proceedings are initiated.

Despite this, the Hawks chose to arrive unannounced at the Minister’s private residence this morning. On being told that the Minister has left for another engagement they preceded to the National Treasury offices and served the summons. Shortly thereafter, and again without the courtesy of a prior indication, the National Director of Public Prosecutions convened a press conference to unveil a set of charges that are patently without merit.

Full story to follow



11 Oct 17:49

Market reaction not as pronounced as with Nenegate

Carin Smith

Cape Town - Although the market reaction was very pronounced, it still fell short of the sharp reaction observed in December last year when former Finance Minister Nhalanhla Nene was suddenly replaced, said Tumisho Grater, economic strategist at Novare.

She said political risk resurfaced as it was reported that Finance Minister Pravin Gordhan together with former SARS commissioner Oupa Magashule and former deputy commissioner Ivan Pillay have been issued with summonses on charges relating to fraud. They are to appear in the Pretoria Regional Court early next month.

The market's reaction was for the rand to immediately weaken by over 3%, the local bond market saw the benchmark 10-year yield jump nearly 19 basis points to 8.88%, while the country’s perceived credit risk as reflected in the 5-year credit default swaps (CDS) spread reached a 3-month high to trade above 260 basis points.

"These developments may increase the probability of a possible downgrade later this year as it adds to the political uncertainty that ratings agencies have been flagging.

"There are now also unanswered questions regarding whether Gordhan will be able to deliver the very important mini budget later this month if the issue is not resolved.

"We now wait to see how the situation unfolds and if the uncertainty will cause a loss of confidence in South African assets which may be reflected in the further weakening of the Rand, higher bond yields and widening credit spreads," she said.


11 Oct 17:39

Sipho Pityana's Casac takes swipe at NPA boss Shaun Abrahams

Lameez Omarjee

Johannesburg – The Council for the Advancement for the South African Constitution (Casac), has said in a statement that the Finance Minster Pravin Gordhan’s summons to appear in court would have “serious negative repercussions”.  

The organisation, chaired by Sipho Pityana, explained that these recent developments raise questions about the integrity of key institutions of democratic governance.  

“The NPA’s prosecutorial authority must be exercised ‘without fear, favour or prejudice’, as demanded by the Constitution,” stated Casac. The organisation believes that political interests are at the centre of this, especially given the timing of the announcement.

Gordhan is expected to deliver the mini budget in 15 days' time. “The circumstances around the investigation of these matters, the timing of questioning and the leaks to the media, all call into question the good faith and independence of the investigative authority, the Hawks, as well as that of the NPA,” said executive secretary, Lawson Naidoo.  

The case brings into question the legitimate use of prosecutorial powers by the National Director of Public Prosecutions (NDPP), Shaun Abrahams. “The protestation of prosecutorial independence by Mr Abrahams appears hollow when measured against his attitude towards pursuing charges of fraud, corruption and racketeering against President Zuma,” added Naidoo.


11 Oct 17:26

Bitcoin prices on a local exchange are on the rise as the rand reacts to a National Prosecuting Authority decision to charge Finance Minister Pravin Gordhan.  



11 Oct 17:18

Business Leadership SA reiterates backing for Gordhan

Business Leadership South Africa ( BLSA) is deeply concerned about both the timing and the decision to charge the Finance Minister, Pravin Gordhan and two former senior SARS employees with fraud.

Our country is experiencing a period of profound upheaval. With another rating agency review ongoing, the Medium Term Budget Policy Statement ( MTBPS) weeks away, serious social protest and violence occurring at our universities, and a number of contentious disputes between state institutions playing out in public, this decision could not have come at a worse time.  

We understand that the charges relate to decisions made six years ago, regarding approving the early retirement, with full pension benefits, of the then deputy SARS Commissioner and his subsequent reappointment several months later. It is important to note that the charges suggest no improper benefit on the part of the Minister. What is in question is the Minister's interpretation of sections of both the Public Service Administration (PSA) and Public Finance Management Act (PFMA) legislations.  

No-one is above the law and it is not our intent to second guess the country’s Director of Public Prosecutions. Nonetheless, the nature of these charges and how they have been pursued creates a strong perception that our prosecutorial institutions are being used for political ends. In the current context, this cannot but be to our detriment as a country and is sure to hold us back as we seek to build an economy that addresses the triple headed Hydra of poverty, unemployment and inequality.  

We call upon the executive arm of our government through the cabinet to swiftly and emphatically affirm their support for the economic strategies and policies set out in Minister Gordhan's budget speech this year, and in the range of supportive actions spearheaded by him, in the interest of South Africa, together with business and labour.  

In particular, we call upon the President to address the country and clearly spell out his government’s programme to reassure investors and rating agencies, including a clear plan to:  

• Restore credibility in the governance and responsible financial management of State Owned Enterprises, especially South African Airways

• Ensure there is policy certainty in mining that restores investor confidence and provides transparency around enforcement of regulations

• Communicate directly with the country on the government’s approach to deal with the current university crisis, including a clear indication of the mandate, scope and timing of the recently appointed inter-ministerial task team.



11 Oct 17:04

Rand's roller-coaster ride since Nenegate.

Infographic: Graphics24



11 Oct 16:20

Only a miracle can save SA from junk - Dawie Roodt

South Africa’s economy is staring down the barrel of a credit rating downgrade to junk status as the country’s finance minister is facing charges, says local economist Dawie Roodt.

Referring to Finance Minister Pravin Gordhan's summons on a charge of fraud, Roodt told Fin24 that "it was pretty much a given even before this most recent development” that South Africa would be downgraded.

“I think we need a minor miracle not to be downgraded. I think it's pretty much a given.

"The ratings agencies will act on a potential change in policy or policy uncertainty. Replacing a minister of finance will certainly lead to policy uncertainty,” Roodt told Fin24.


11 Oct 16:08
The infamous Cape gangster gang The American$ is allegedly tied to the investigation into Finance Minister Pravin Gordhan, according to a media report.

11 Oct 16:06

Listen to economist Dawie Roodt's response to the NPA's decision to charge Finance Minister Pravin Gordhan.


11 Oct 15:57

Rand steady at R14.28/$. Today's range in reaction to news of Gordhan's summons on charges of fraud: 13.7878 - 14.3300

Economist Dawie Roodt doesn't see the local unit going back to historic lows reached when former Finance Minister Nhlanhla Nene was fired in December last year.


11 Oct 15:44

The 'war' has again come to the surface - Nomura economist

Today’s news that Pravin Gordhan has been issued with a formal summons to answer charges of fraud is only a small cog in a much larger and existential succession battle within the ANC that will continue until the end of 2017 – damping investor confidence and growth.

11 Oct 15:41

State of public institutions worry Chamber of Mines

The Chamber of Mines notes with concern the announcement by the National Prosecuting Authority of its decision to charge Minister of Finance, Pravin Gordhan, in relation to alleged fraud as part of an ongoing investigation into allegations around the South African Revenue Service.  

The Chamber’s view is that no individual is above the rule of the law. At the same time, legal means should not be used to opportunistically pursue allegedly nefarious agendas under the guise of justice and due process.

The Chamber is deeply concerned about the state of public institutions in South Africa and will raise the matter with the Presidency.


11 Oct 15:31

Who really stands to benefit from all this, asks reputation management expert Solly Moeng

While there might be technical substance to the charges, the timing is very worrisome.

There is no doubt in the minds of many observers that Pravin Gordhan’s departure from his position as Finance Minister will politically benefit people who have been wanting to take full control of National Treasury and budgetary processes for a while.

In this, Gordhan’s enemies and, by extension, the enemies of South Africa’s economic well-being, have been given a gift on a silver platter.

It is also strange that, similar to the unfortunate announcement on the banks by Mines Minister Mosebenzi Zwane, a few weeks ago, this also happens while the President is out of the country. Coincidence?

It now seems less certain that Pravin Gordhan will be the one presenting the country’s mid-term budget in a few weeks’ time. The question is, if someone else gets chosen to present the budget, will it be the same budget prepared by Gordhan and his team or will it be tempered with to benefit 3rd party interests and risk throwing our economy into a tail spin?

Who really stands to benefit from all this? And what has suddenly woken the NDPP (Abrahams) from slumber? If this awakening is legitimate, what else should we expect from him in the short term?


11 Oct 15:23

Timing of announcement most unfortunate - Business Unity SA

Business Unity South Africa (Busa) finds today’s announcement by the National Prosecuting Authority (NPA), that it plans to charge Finance Minister Pravin Gordhan for alleged fraud, most unfortunate.

Commenting on the announcement made by NPA head, Adv. Shaun Abrahams this morning – a few days before Minister Gordhan is to present the Medium-Term Budget Policy Statement (MTBPS) in the National Assembly – Busa President, Jabu Mabuza said that it was “most unfortunate” that this development takes place shortly after the return from New York and Washington DC of a high-level Government, business and labour delegation, led by Minister Gordhan, in an effort to ensure that the country avoided a possible sovereign credit downgrade.  

“While nobody is above the law, we remain deeply concerned about what appears to be the emergence of a pattern which sees serious allegations made against Minister Gordhan made very close to important dates and developments. The Hawks presented Minister Gordhan with a list of questions a few days before he was due to present the 2016/17 Budget in the National Assembly. At the end of May, on the eve of a visit to South Africa by foreign ratings agency, the Hawks controversially invited the Minister for a visit to its offices following the issuing of a warning statement, and now, days before the MTBPS – and barely days after our return from the USA – the NPA makes this shocking announcement,” said Mabuza.

He said that Busa genuinely believes that the kind of cooperation that has recently seen the Government, through the Treasury, working in a close partnership with organised business and labour would improve the economy, create jobs and stave off any possible sovereign credit downgrades.

As a result, Busa found the timing of the NPA’s announcement, which fuelled perceptions that there was an agenda to destabilise the economy, “most unfortunate”. Mabuza said such perceptions undermined investor confidence in the country’s policy environment.

Busa Chief Executive Officer, Khanyisile Kweyama said while the organisation had taken note of the NPA's decision to summon Minister Gordhan to respond to fraud charges, Busa wished to confirm its confidence in the South African judicial system.

Kweyama emphasised that, in terms of South Africa’s laws, Minister Gordhan remained innocent until proven otherwise and the organisation continues to be confident in him. “We reaffirm our confidence in him as Finance Minister and our great appreciation for his sterling work over the past few months, in partnership with the business and labour leadership, to steer the South African economy away from a possible credit downgrade,” Kweyama said.

Mabuza added that notwithstanding these developments, Busa hoped that the Government, business and labour would continue to work closely together as partners in the manner that they have done since the beginning of the year.


11 Oct 15:07

Developments negative on economy - Sacci

The South African Chamber of Commerce and Industry (Sacci) said on Tuesday afternoon it notes with concern the developments surrounding the Minister of Finance and other former Sars top officials regarding charges of fraud as announced by the head of the NPA at a media briefing earlier today.  

"As a business organisation the impact of these developments on the economy can only be negative, especially in an environment where South Africa has been facing a potential credit ratings downgrade and an economy that has been growing at a slow rate," said Sacci.  

"We, however, support the constitution of the Republic of South Africa and its organs of state. We also support any individuals’ rights as enshrined in the constitution. These rights include the right to a free and fair trial, among other things, and the basic principle of the presumption of innocence until proven guilty by a court of law."  

Sacci said it will be refraining from commenting on issues that are sub judice until the issues are resolved by the competent tribunal as prescribed in the Constitution. 


11 Oct 14:57

Is this the tipping point of fiscal prudence?

By Lesiba Mothata, chief economist at Investment Solutions

Emerging market countries are not immune to crises: be they capital flight or currency or banking crises. South Africa is no different to any other emerging market country, which, at some stage of development, found that investor sentiment changed towards it with dire economic consequences.

History teaches us that self-inflicted crises have a lasting effect and could prove much more damaging than episodes of contagion and negative impacts flowing in from elsewhere in the world.

While South Africa has enjoyed a global tailwind due to the growing demand for emerging assets (bonds and equities), improved Chinese growth outcomes, a strong demand for its exports to sub-Saharan African countries and capital inflows received by SABMiller shareholders, the country is not immune to a sudden shift in investor sentiment.

At this stage of the country’s economic recovery – and taking into account an ongoing lust for yield by global investors - South Africa should be able to see an improved economic outcome, comfortably achieving gross domestic product (GDP) growth of more than 1% in the next year.

However, the ongoing machinations surrounding the leadership of the National Treasury induces huge uncertainty regarding the path fiscal policy will take from here.

It appears the upcoming Medium-Term Budget Policy Statement - due later in October – may contain surprises that could spook investors and rating agencies.

While no one person is above the law - and they should be tried in court if found wanting - the way in which the grandstanding between the Minister of Finance and the National Prosecuting Authority is playing out is eroding confidence.

It is unfortunate that when South Africa can easily delay a ratings downgrade, it seems poised to deliver its fate to a sub-investment grade (so-called junk status) decision. Emerging market countries get disproportionately punished for fiscal mismanagement.

After many years of prudent fiscal management, it looks like a tipping point has been reached.


11 Oct 14:50
"This will further erode confidence in the political and economic management of South Africa." Daniel Silke, director of Political Futures Consultancy told Reuters. "It will potentially affect our chances of sustaining the current rating agency levels."

11 Oct 14:35

Bloomberg analysts in London discuss economic impact of Gordhan summons:


11 Oct 14:34

SACP statement on the Hawks' summons against Finance Minister

No-one - whether the Minister of Finance Comrade Pravin Gordhan or the Hawks should be above the law. The putative charges that the Hawks have, for a while, been making against the Minister who has now apparently been issued with summons in relation to the so-called South African Receiver of Revenue or Sars rogue unit, are a pretext to have him removed from office and weaken the National Treasury's struggle that he is leading against corruption and corporate capture.

The SACP is strongly opposed to political persecutions in any manifestation.The Party has noted the denial of any political involvement in this matter, but also that after assuring Gordhan that he was not a suspect, and then pausing for the local government elections, the matter was suddenly back on the table just after the elections.

The timing has an eerie similarity with the events that unfolded between 2003 and 2007, when the timing of another prosecution against a senior politician appeared to be coordinated around a political calendar.


11 Oct 14:32

11 Oct 14:32

AUGUST ANALYSIS: Why the Hawks don't have a case against Gordhan

Safura Abdool Karim on GroundUp warned in August that the Hawks may reformulate their charges, and next time around, the legal arguments may not be as shaky.


11 Oct 14:24

ANC notes decision of NPA to summons Minister Gordhan and others – urges them to cooperate with the process

By ANC national spokesperson Zizi Kodwa:

The African National Congress (ANC) has noted the announcement by the National Prosecuting Authority (NPA) to summons the Minister of Finance, Comrade Pravin Gordhan, Oupa Magashula and Ivan Pillay to appear in court on fraud charges in relation to the investigation at the South African Revenue Service (SARS).

This investigation and related, untested and mischievous "conspiracy theories" has had a detrimental effect on the South African economy and we trust that today's announcement will move us a step closer to uncovering the truth from facts and bring this matter to finality.

We welcome today's remarks by the Head of the NPA, Advocate Shaun Abrahams, rejecting claims of political interference in the prosecutorial process.

The ANC urges all parties as well as external stakeholders to allow the law to take its course.The ANC further urges Cde Pravin Gordhan and others to fully cooperate with the NPA in order to bring this matter to finality as soon as possible.

The presumption of innocence until proven guilty remains a sacrosanct principle of our law and the ANC has full confidence in our judiciary to act as final arbiters in these matters.

The ANC calls on interested parties to desist against public commentary, which would undermine due process or create further confusion.


11 Oct 14:21

The public must hold officials to account - Gordhan

Members of National Treasury are expected to conduct themselves in a way that does not compromise the economic reputation of the country and jeopardise the welfare of citizens, while a handful of people in government continue to “extract” from the public purse, said Finance Minister Pravin Gordhan.

“We say that we are here to represent the poor’s interest. But when we engage in corrupt practice, we undermine the poor and ensure they do not get what they are entitled to,” he said. “Who will defend the poor when we are running to get benefits for ourselves?”


11 Oct 14:03
This is the charge sheet issued by the National Prosecuting Authority to Finance Minister Pravin Gordhan accusing him of fraud.

11 Oct 14:02
“The timing is clearly unfortunate ahead of the rating decision and the mid-term budget policy statement in a few weeks time,” Mike Davies, an analyst with Kigoda Consulting in Cape Town, said by phone. “It will place South Africa’s institutional independence under further scrutiny. The case could be used by President Zuma to reshuffle his cabinet, which is seen as one of the key motives for the campaign against Gordhan.” - Bloomberg.

11 Oct 14:02

11 Oct 14:01

11 Oct 14:01

11 Oct 14:01

11 Oct 14:00

11 Oct 14:00

11 Oct 14:00

11 Oct 13:54

Gauteng declares war on corruption with open tender system  

Worldwide, tender processes are an avenue for state corruption and state capture to take place, said Gauteng Premier David Makhura. For this reason the Gauteng government’s open tender system has been established to fight corruption in procurement processes.

By 2018/2019 the Gauteng government hopes to achieve 100% open tender procurement. It was established in the Gauteng government’s effort to find ways to restore confidence in public procurement processes.

“Transparency and accountability are important to save public officials and civil servants from themselves, from capture by private and corporate interests,” said Makhura. The system aims to promote transparency of government and greater accountability to citizens, said Gauteng MEC of Finance, Barbara Creecy.


11 Oct 13:33

David Maynier, Democratic Alliance Shadow Minister of Finance:

Charging Pravin Gordhan is a disaster for the economy in South Africa  

The fact that the Minister of Finance, Pravin Gordhan, will be prosecuted and arraigned on charges of fraud and theft is a disaster for the economy in South Africa.  

The news, which comes two weeks before the tabling of the crucial Medium Term Budget Policy Statement on 26 October 2016, has caused the rand to plummet, and will make a sovereign ratings downgrade more likely in South Africa.  

The minister maintains that the transaction, relating to the early retirement of the former Deputy Commissioner of the South African Revenue Service, Ivan Pillay, for which he will be charged, was “entirely lawful”.  

We must now trust the courts to determine whether there is any merit to these charges. And we hope that there will be no delay in bringing this matter to court because “justice delayed is justice denied”.  

The fact is that, what Deputy President Cyril Ramaphosa, refers to as “a government at war with itself” is destroying any prospect of boosting economic growth and creating jobs in South Africa.


11 Oct 13:32

From Budget speech to Mini Budget speech - the looming Sars Wars ...

Earlier this year, Finance Minister Pravin Gordhan criticised the timing of the Hawks investigation (they sent him the letter with 27 questions) ahead of his Budget speech on February 24; today he criticised the NPA as his Mini Budget speech is on October 26, in two week's time.

At the time, Netwerk24 revealed that the National Prosecuting Authority (NPA) and the Hawks were "collaborating hard" to prosecute Ivan Pillay, Johann van Loggerenberg and Andries (Skollie) Janse van Rensburg of Sars.

Advocate Shaun Abrahams, head of the NPA, was "directly involved" with the "serious attempt" to prosecute the former Sars officials, a senior source with knowledge of the case told Netwerk24.


11 Oct 13:21

Pravin Gordhan made the following statement in August after he received a letter of warning from the Hawks regarding the fraud investigation:


11 Oct 13:20

WATCH: Rand nose-dives in wake of Gordhan summons


11 Oct 13:18

Economist Dawie Roodt:

"I think what is happening here is that the president is using the organs of state, in this instance the prosecuting authority, to try to get rid of Pravin Gordhan.   

"If there is a charge of corruption against the minister of finance, you can't allow that guy to remain in cabinet.

"You have to get rid of him. So, I think that's what's going to happen. We're going to see a couple of cabinet heads role."


11 Oct 12:55

Zuma presses red button. Rand tanks on the news that Pravin Gordhan has been charged.

Reports that the Finance Minister has been served with a formal criminal charge have spooked investors, who fear this signals a renewed attack on Cabinet's most respected member.



11 Oct 12:49

Jump to
top

 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...