31 Oct 2016
South Africa’s currency jumped on Monday after the country’s national prosecutor dropped fraud charges against Finance Minister Pravin Gordhan, the latest chapter in a battle for control of the ruling African National Congress that has rattled markets in Africa’s most-developed economy.
National Prosecuting Authority chief Sean Abrahams said in Pretoria that charges against Mr. Gordhan would be dropped because there was no intention to act unlawfully.
Mr. Gordhan, a respected treasury chief and veteran of the antiapartheid struggle, was due to be prosecuted on Wednesday for approving a generous early retirement deal for a former senior official in the South African Revenue Service.
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