Monday 14 December 2015

PRAVIN GORDHAN APPOINTED THIRD FINANCE MINISTER IN SOUTH AFRICA.


South Africa's president has appointed the experienced Pravin Gordhan as his third finance minister within a week.
He replaces the little-known David van Rooyen who had only been in the job since Thursday.
Last week, President Jacob Zuma sacked previous Finance Minister Nhlanhla Nene in a widely-criticised move that sent the rand to record lows and caused the stock market to tumble.
The developments come amid concern over South Africa's struggling economy.
Mr Gordhan was widely respected when he served as South Africa's finance minister from 2009 until 2014.
BBC Africa business reporter Lerato Mbele says his re-appointment is designed to quell market discontent and restore some confidence.
It appeared to have an immediate effect with the currency rising, recovering from just over 16 rand to the dollar to about 15 by Monday morning.

http://www.rubyplusafrica.com/postdetail/pravin_gordhan_appointed_third_finance_minister_in_south_africa

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