Downgrade possible if Gordhan removed from his office- expert

Rand has plummeted losing 3% at one point after Finance Minister Pravin Gordhan summoned for fraud by the National Prosecuting Authority (NPA) to appear in court in November.

The allegations that there is an attempt to remove Finance Minister Pravin Gordhan from his office in order to get access to the office of the National Treasury make South Africa less investment friendly. This according to emerging markets economist at Nomura investment bank, Peter Attard Montalto.

Montalto says a possible downgrade is possible if Gordhan get removed from his office.

Listen to the audio below for more information...

Read More
Tshwane residents to ‘buy back’ electricity in solar programme

Tshwane residents to ‘buy back’ electricity in solar programme

Countries like Germany have been doing this for over a decade.

Taxi ranks a risk for female commuters - Sonke Gender Justice

Taxi ranks a risk for female commuters - Sonke Gender Justice

At least two women have spoken to EWN about being sexually attacked in a white and grey taxi.

Mystery man implicated in Chief Justice burglary 'well connected' - Times journo

Mystery man implicated in Chief Justice burglary 'well connected' - Times journo

Times journalist Stephan Hofstatter gives the lowdown on Nkosinathi Msimango, the man allegedly linked to the investigation.

#PravinGordhan: Rand weakens, fears of a downgrade & his supporters stand firm

#PravinGordhan: Rand weakens, fears of a downgrade & his supporters stand firm

The news that Pravin Gordhan has been issued with a formal summons has been met with shock & concern.

Rand takes a knock after Gordhan summoned by NPA

Rand takes a knock after Gordhan summoned by NPA

At 11am, the rand traded at R14.24 to the dollar, R15.81 to the euro and R17.51 to the pound.

Pravin Gordhan issued with summons to appear in court in November

Pravin Gordhan issued with summons to appear in court in November

Minister of Finance Pravin Gordhan has been issued with a summons for fraud.

Popular articles
Opinion: Laying equal blame on parents in Spur spat is wrong says Eusebius

Opinion: Laying equal blame on parents in Spur spat is wrong says Eusebius

He believes it's a moral cop-out to say the only thing going on in the video is two adults behaving badly in front of the kids.

[LISTEN] Eldorado Park activist's eyewitness account of fatal mob attack

[LISTEN] Eldorado Park activist's eyewitness account of fatal mob attack

Community Activist Dereleen James says there has been a surge of drug related crimes in the area, leading to a series of deaths.

Is Uber dying? Stuff’s editor explains…

Is Uber dying? Stuff’s editor explains…

High ranking employees are resigning en masse as crisis upon crisis pummel lossmaking Uber.

Spur CEO: Man's pic will be up at restaurants and he is not welcome

Spur CEO: Man's pic will be up at restaurants and he is not welcome

Spur CEO says staff aren't equipped for this kind of customer confrontation and he will consider reviewing their training manual.

WATCH: Spur bans man after heated spat caught on camera

WATCH: Spur bans man after heated spat caught on camera

A man has been banned from Spur after threatening a woman during a heated argument which was captured on video and has gone viral.

Spur tightens its belt as 'two for the price of one' Monday burger special ends

Spur tightens its belt as 'two for the price of one' Monday burger special ends

The CEO of Spur says food inflation has played a big role in making this difficult decision.

3 JSE shares you should invest right now (by Momentum)

3 JSE shares you should invest right now (by Momentum)

Looking for a hot tip, or three? Here’s what Momentum Head of Investments and Savings Steven Schultz is buying...

He was a loving family man - Joe Mafela’s niece

He was a loving family man - Joe Mafela’s niece

Legendary actor, Joe Mafela popularly known as Sdumo passed away on Saturday following a car accident.

Earn peanuts? How to best invest very small amounts...

Earn peanuts? How to best invest very small amounts...

Got a spare R200 or R300 a month? Here’s how to make that money work hard and grow…