The likelihood of JZ firing Pravin (and what’ll happen to YOUR money if he does)

Wise legal opinion says this case is going to be very difficult for the NPA to win.

Stephen Grootes

Everybody loses, but the poor is harmed disproportionately.

Goolam Ballim

The reality is that he’s a suspect in a criminal probe.

Ralph Mathekga

The National Prosecuting Authority has formally issued a summons for Finance Minister Pravin Gordhan.

The rand gained more than all other EM currencies so far this year (bar the Mexican peso).

However, within minutes of the NPA moving on Gordhan it fell by 3%.

The decision to prosecute Gordhan, supposedly for approving an R1.1 million early-retirement package, wiped nearly R50 billion off the JSE’s banking index.

Will President Jacob Zuma fire Gordhan?

The Money Show’s Bruce Whitfield posed that question to Ralph Mathekga, Head of Political Economy at Mapungubwe Institute for Strategic Reflection.

Whitfield also interviewed Standard Bank Chief Economist Goolam Ballim about the economic ramifications of such a move.

He also spoke to The Midday Report's Stephen Grootes, who broke the story.

Scroll down for more quotes from the audio below.

Shaun Abrahams has a credibility problem.

Stephen Grootes

This is all about the political dynamics in the ANC.

Stephen Grootes

Remarkably, the rand has depreciated quite modestly for the risk South Africa is facing.

Goolam Ballim

The probability of a downgrade has elevated.

Goolam Ballim

In the last couple of minutes we’ve seen the currency slip another 10 cents.

Goolam Ballim

I have no doubt that many analysts will review their forecasts for 2017 with a lower bias.

Goolam Ballim

A downgrade will compromise South Africa’s jobs market by at least 200 000 formal sector positions.

Goolam Ballim

It’s not OK for the president to fight off the charges against him.

Ralph Mathekga

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Article brought to us by Old Mutual.


This article first appeared on 702 : The likelihood of JZ firing Pravin (and what’ll happen to YOUR money if he does)


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