South Africa rand falls after President Zuma sacks Gordhan

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South Africa's rand plunged more than 5% overnight after President Jacob Zuma sacked Finance Minister Pravin Gordhan.

Nine other ministers were sacked as the president overhauled his cabinet.

Mr Gordhan was seen by many as a bulwark against corruption in an administration that is facing growing criticism.

Editor's Comment
Don't let FMD outbreak drag on

Acting Agriculture Minister, Edwin Dikoloti, is right in saying opening an export-ready facility whilst Foot and Mouth Disease (FMD) is still spreading would risk getting the whole country blacklisted before a single carcass leaves the door.A ban like that would break the already stressed nation. So, the postponement, painful as it is, is the right thing to do. The local economy is being squeezed from both ends. FMD has already slammed the door...

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