South African Rand Falls as Finance Minister Faces Gupta Case

The rand has weakened against the U.S. dollar following rumours of Pravin Gordhan's dismissal. Unverified sources allege that President Jacob Zuma informed the South African Communist Party of his intentions to fire the finance minister. This comes as Gordhan's legal team in the North Gauteng High Court will face off against 14 Gupta-owned companies over the blacklisting of their bank accounts by South Africa's top four banks.

Top: Title image from ex-Public Protector Thuli Madonsela's State Capture report which probed links between the Gupta business family and government officials. Bottom-left: Finance Minister Pravin Gordhan. Bottom-Right: Atul Gupta and President Jacob Zuma.

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