South African minister notes worry about graft prosecutions
JOHANNESBURG (AP) — A Cabinet minister in South Africa on Monday citing concerns that efforts to prosecute people allegedly involved in corruption under former president Jacob Zuma are falling short.
Pravin Gordhan, the public enterprises minister, told a commission investigating corruption allegations that he has often heard South Africans ask why no "big figure" has ended up in a prison uniform.
South Africa’s new president replaces finance minister
JOHANNESBURG (AP) — South Africa's new president announced a Cabinet shuffle late Monday that replaces the finance minister and puts a former finance minister in charge of the country's troubled state-owned companies.
South Africa’s ruling ANC limps toward choosing new leader
JOHANNESBURG (AP) — South Africa's ruling African National Congress is fending off fresh crises as the bitter fight for control of the former liberation party grows before President Jacob Zuma steps down as party leader in December.
A racially divisive public relations campaign, sexual allegations against the deputy president and what appears to be a political assassination highlight the struggle for power within Nelson Mandela's storied movement.
South Africa’s economy falls into recession
JOHANNESBURG (AP) — South Africa's economy — one of Africa's biggest — is in recession for the first time in eight years.
A 0.7 percent decline in GDP in the first quarter of this year followed a 0.3 percent contraction in the last quarter of 2016, meeting the definition of a recession as two or more quarters of negative growth, the South African government said Tuesday.
JOHANNESBURG (AP) — The Fitch agency has downgraded South Africa's credit rating to junk status, citing political turmoil and governance concerns.
The downgrade on Friday followed a similar move earlier this week by the Standard & Poor's ratings agency. It came as thousands of protesters across the country called for President Jacob Zuma to resign following his dismissal of the finance minister in a Cabinet reshuffle.
JOHANNESBURG (AP) — South Africa's ruling party gave a boost to the embattled president on Wednesday, saying an opposition effort to force his resignation after he fired the finance minister would fail.
JOHANNESBURG (AP) — South Africa's president on Tuesday responded to the political crisis that erupted after he fired the finance minister, acknowledging that public disputes at the top of the government are a "serious weakness," while the country's biggest labor group urged him to resign.
JOHANNESBURG (AP) — South Africa's Deputy President Cyril Ramaphosa called for his countrymen to get rid of "greedy" and "corrupt" people, in remarks seen as an attack on President Jacob Zuma.
Ramaphosa was speaking after Jacob Zuma fired widely respected finance minister Pravin Gordhan in a cabinet reshuffle last week in which he purged other political opponents.
JOHANNESBURG (AP) — South Africa's rand tumbled on Monday afternoon after credit ratings agency Standard & Poor's downgraded the country's the credit grade to junk status, saying political and institutional uncertainty after a cabinet reshuffle by President Jacob Zuma last week had placed fiscal and growth outcomes at risk.
PRETORIA, South Africa (AP) — South Africa's new finance minister said Saturday he is aware of the "climate of sharp disagreement and mutual suspicion" as his predecessor's firing deepens a split in the country's ruling party, and he promised to "radically transform" the economy to reach out to people long marginalized.
PRETORIA, South Africa (AP) — South Africa faced political and financial turmoil on Friday after President Jacob Zuma fired the finance minister in a Cabinet reshuffle, intensifying a rift in the party that took power after the 1994 end of white minority rule as well as concerns about corruption at top levels of government.
South African finance minister pulled from overseas tour
JOHANNESBURG (AP) — South Africa's finance minister returned to Johannesburg on Tuesday after being abruptly ordered to pull out of a trade promotion trip to Britain and the United States, fueling investor fears that he is about to be fired by President Jacob Zuma.
Britain’s finance chief starts overseas tour on Brexit fears
PRETORIA, South Africa (AP) — Britain's exit from the European Union will be a "smooth process" that will not disrupt trade patterns with smaller countries, finance chief Philip Hammond said Wednesday as he began an overseas tour to reassure global partners ahead of his nation's planned EU departure.
South African prosecutors drop case against finance minister
JOHANNESBURG (AP) — South African prosecutors on Monday dropped fraud charges against the finance minister and two former tax officials, reversing a decision that was criticized by many South Africans and deepened concern about the country's struggling economy and alleged government mismanagement.
South African police use stun grenades on student protesters
CAPE TOWN, South Africa (AP) — South African police have used stun grenades to disperse student protesters outside parliament, where the finance minister was giving a budget speech.
Hundreds of protesters had marched to the parliament building in Cape Town on Wednesday to call for free university education. They burned what they said was a mock cardboard coffin for the education minister to show dissatisfaction with the government's response to their demands.