Today's Big Stories

Hawks case a political plot to unseat Gordhan - experts

Finance Minister Pravin Gordhan and former Sars employees have summoned by the Hawks on Thursday morning in the latest development in an ongoing Sars investigation.

Economist Dr Iraj Abedian says the probe is part of a political machination to intimidate Gordhan, who has in the past spoken out against the investigative procedures.

This has clearly nothing to do with the case or any criminal or illegal act.

Dr Iraj Abedian, chief economist at Pan African Investment Research

Abedian explains that Cabinet is not in agreement over the nuclear procurement programmes and controversial deals at parastatals such as South African Airways (SAA) and arms manufacturer Denel.

This is part of a complex, inter-related set of political and fiscal requirements that SAA, the nuclear deal and Denel has.

Dr Iraj Abedian, chief economist at Pan African Investment Research

He says the matter is an illustration of the split within Cabinet, which will be detrimental to the country's macro-economic stability.

Listen the full conversation:

At the same time, Financial Mail deputy editor Sikonathi Mantshantsha says the currency has responded negatively to the news.

The rand dropped 4% against the US dollar and 5% against the British pound after the report broke on Tuesday.

The rand will be under attack until that matter is resolved.

Sikonathi Mantshantsha, Financial Mail deputy editor

Mantshantsha says it appears that Gordhan is standing in the way of of very influential people who want to access the billions of taxpayers money for their nefarious purposes.

They are really trying to find anything that they can use to remove him from that position.

Sikonathi Mantshantsha, Financial Mail deputy editor

Listen the full conversation:

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