South African Minister of Finance Pravin Gordhan might be charged with graft this week, the City Press newspaper reported yesterday, citing senior sources in the South African police, National Prosecuting Authority and tax service.
Thirty witnesses had been lined up to testify against Gordhan and three former officials from the South African Revenue Service, the report said.
Prosecuting authority officials did not immediately respond to requests for comment.
Police this week summoned Gordhan in connection with an investigation into a “rogue spy unit” set up in the revenue service when he headed the organization, rattling South African markets and sending the rand down 5 percent.
The investigation first came to light in February and political pundits have said Gordhan is being undermined by a faction in the government and ruling African National Congress (ANC) allied to South African President Jacob Zuma.
The newspaper said Gordhan faced a graft charge for granting early retirement to Ivan Pillay, a former South African Revenue Service commissioner, who is also under investigation.
Zuma on Thursday said he backed Gordhan but was powerless to stop a police investigation into him, signaling a prolonged tussle that could add to market volatility.
South Africa’s credit rating is set to be cut to junk status this year, according to a Reuters poll this week, with economists surveyed citing the heightened political risk around the Gordhan saga.
Gordhan commands huge respect in the markets and his departure would be a serious blow to Africa’s most industrialized country, teetering as it is on the brink of recession.
The Sunday Times said Gordhan had told a meeting of the South African Treasury’s staff on Friday that he and South African Deputy Minister of Finance Mcebisi Jonas could be removed in a Cabinet shuffle.
Treasury officials did not immediately respond to requests for comment.
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