“Let me do my job”, Gordhan said in a statement.
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Both Gordhan and Trevor Manuel, who was finance minister at the time, said the tax agency’s investigative unit was approved by the cabinet.
In December, Mr Zuma shocked markets by firing two finance ministers within four days, and Mr Gordhan was quickly recalled in a panicked attempt to limit the damage.
A Zuma-backed plan to build a fleet of nuclear power plants, at a cost of as much as US$60 billion (45 billion pounds), has been a cause of tension with the Treasury for months and is likely adding to pressure on Gordhan’s position, analysts say.
Statements of support for the finance minister from Zuma and Deputy President Cyril Ramaphosa on Thursday failed to ease anxiety, with a survey of investors and other market participants by Rand Merchant Bank showing about half believe he will be removed.
Stung by his ruling party’s worst electoral performance since the end of apartheid, South African President Jacob Zuma is going for broke in a battle to maintain his grip on power.
The rand had fallen more than 1% against the U.S. dollar on Wednesday morning.
Fears that Gordhan’s job was on the line pushed the rand to its lowest level in nearly four weeks on Wednesday, while yields on benchmark government bonds due December 2026 surged the most since Zuma fired Nene. That means ultimately, it will be Zuma’s decision to push the reshuffle button or not. “That’s why there’s the initial selloff in the market and that’s why it’s very jittery”.
According to media reports, Gordhan had been ordered to the Hawks office for a warning.
I have provided a comprehensive account of matters which the HAWKS had raised in their 27 questions on 18 May 2016.
The Centre for Development and Enterprise (CDE) said it was deeply concerned about the latest attack on the Minister of Finance by elements in the country’s law enforcement community.
“It’s political turmoil and investors in the worldwide market don’t like the fact that there’s a possibility that Pravin Gordhan could go as finance minister”, Wichard Cilliers, a trader at Treasuryone in Pretoria, said by phone.
The funeral was streamed live by the South African Broadcasting Corporation.
EFF president, Julius Malema, said Gordhan should not be a “cry baby”. The Presidency says it has noted the concerns of organisations and civil society.
Meanwhile, Van Loggerenberg thanked South Africans for their support.
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But the Guptas struck back saying that they remained fully committed as shareholders to ensure that their businesses were run on sound business lines with all transactions being done on a transparent‚ arms-length basis. “Those behind this campaign of public vilification and persecution must have known this from the outset”, the foundation said.
