Thousands of protesters are set to demonstrate in major South African cities on Friday against President Jacob Zuma’s leadership.
They are demanding his resignation after a cabinet reshuffle triggered the latest crisis of his presidency.
The reshuffle has also caused rifts in the ruling African National Congress (ANC), which has governed South Africa since the end of the ‘white-minority rule’ in 1994.
Similarly, S&P Global Ratings cited Gordhan’s dismissal as one reason for its downgrade of South Africa to “junk” in an unscheduled review on Monday.
The Rand has tumbled more than 11 per cent since March 27, when President Zuma ordered Mr Gordhan to return home from overseas talks with investors, days before firing him from the cabinet.
SOURCE: Channels Tv