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p style=”box-sizing: border-box; -webkit-font-smoothing: antialiased; margin-bottom: 0px; color: rgb(60, 60, 60); font-family: TiemposTextWeb-Regular, Georgia, serif; background-color: rgb(255, 255, 255);”>Reports from Bloomberg confirms that South Africa’s Finance Minister has been arrested for fraud. The arrest has plunged the value of the Rand against the dollar to R14.2/$1 losing about 3.5%.
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p style=”box-sizing: border-box; -webkit-font-smoothing: antialiased; margin-bottom: 0px; color: rgb(60, 60, 60); font-family: TiemposTextWeb-Regular, Georgia, serif; background-color: rgb(255, 255, 255);”>South African prosecutors said they will prosecute Finance Minister Pravin Gordhan for fraud and have summoned him to appear in court amid allegations that he illegally authorized an early retirement and established a illicit investigative unit when he headed the national tax agency almost a decade ago. The rand fell by as much 3.5 percent against the dollar, the most since June 24.
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p class=”inline-media__unlinked-image” style=”box-sizing: border-box; -webkit-font-smoothing: antialiased; position: relative; cursor: pointer;”> Pravin Gordhan Photographer: Halden Krog/Bloomberg
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