South Africa’s chief prosecutor has dropped fraud charges against Finance Minister Pravin Gordhan. Mr Gordhan had described the allegations as without merit and politically motivated. News of the charges earlier this month rattled the financial markets and the South African rand fell more than 3%.
The finance minister was appointed last year after President Jacob Zuma’s preferred candidate lasted just a few days in the job. He is not seen as a close ally of the president and has warned against corruption becoming rampant in South Africa. Read more