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Ahmed Kathrada to back Gordhan up in court

  • by Dan Gutierrez
  • in Markets
  • — Oct 13, 2016
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He said other members of his foundation, including board members Derek Hanekom, Laloo Chiba, Max Sisulu, Kgalema Motlanthe, Barbara Hogan, Prema Naidoo, and Sophie Williams-De Bruyn, would be at the Pretoria Regional Court as well, he said in a statement on Wednesday.

The Cape Chamber of Commerce has deplored the timing of the decision to prosecute the Minister of Finance, Mr Pravin Gordhan, on a charge of fraud. "Decent and democratic-minded South Africans will not allow economic instability to prevail, and they should not allow Minister Gordhan to be put under pressure to resign", added Balton.

The ANC stalwarts had been critical of President Jacob Zuma's leadership of the country and party, including his sacking of Nhlanhla Nene as finance minister in December.

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While noting this commitment, the Kathrada Foundation was wary of its endurance. "Treasury stands as the bulwark against numerous schemes aimed at short-changing the people of South Africa", Balton said. Other express an "end of days" sentiment, feeling that South Africa is not progressing due to is political drama and openly attacked Shaun Abrahams.

The minister is due to announce his mid-term budget speech and has recently returned from a trip to the United States, where he held a meeting with ratings agencies and business to avert a credit downgrade.

The charges follow a long silence from the Hawks and the National Prosecuting Authority, after it was revealed in August that the finance minister faced possible charges of corruption relating to Pillay's early retirement.

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