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| Version 3 | Version 4 |
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| South Africa drops charges against Finance Minister Gordhan | South Africa drops charges against Finance Minister Gordhan |
| (35 minutes later) | |
| South Africa's chief prosecutor has dropped fraud charges against Finance Minister Pravin Gordhan. | 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. | 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%. | News of the charges earlier this month rattled the financial markets and the South African rand fell more than 3%. |
| The finance minister has been seen as standing up to President Jacob Zuma in cabinet and has warned against corruption becoming rampant. | |
| He was appointed for a second stint in the job late last year after the president's preferred candidate lasted just a few days. | He was appointed for a second stint in the job late last year after the president's preferred candidate lasted just a few days. |
| The fraud charges related to alleged severance payments made to a senior executive at the South African Revenue Service (Sars), when it was under Mr Gordhan's leadership 10 years ago. | |
| After reviewing the charges, the head of South Africa's National Prosecuting Authority (NPA), Shaun Abrahams, said there had been no criminal intent. | After reviewing the charges, the head of South Africa's National Prosecuting Authority (NPA), Shaun Abrahams, said there had been no criminal intent. |
| Analysis: Pumza Fihlani, BBC News, Johannesburg | Analysis: Pumza Fihlani, BBC News, Johannesburg |
| This is the latest in a series of blunders relating to the finance ministry that have cost South Africa's economy millions of dollars. | This is the latest in a series of blunders relating to the finance ministry that have cost South Africa's economy millions of dollars. |
| Many had alleged that the fraud case against Mr Gordhan was politically motivated and the NPA's U-turn plays into those claims. | Many had alleged that the fraud case against Mr Gordhan was politically motivated and the NPA's U-turn plays into those claims. |
| It seems to have buckled under pressure following the public outcry against the decision to charge Mr Gordhan. | It seems to have buckled under pressure following the public outcry against the decision to charge Mr Gordhan. |
| Dozens of high-profile South Africans, including 100 stalwarts of the governing African National Congress had rallied behind the minister, seeing the charges as a political ploy aimed at ousting him from office so that the treasury could be looted by corrupt people. | |
| The debacle has raised questions about the independence of the NPA and whether it has been reduced to a political tool. | The debacle has raised questions about the independence of the NPA and whether it has been reduced to a political tool. |
| At a news conference on Monday, Mr Abrahams rejected criticism that the original charges had been politically motivated. | At a news conference on Monday, Mr Abrahams rejected criticism that the original charges had been politically motivated. |
| He said that everyone was treated equally before the law, and that laying charges and reviewing them was normal practice, IOL news website quotes him as saying. | He said that everyone was treated equally before the law, and that laying charges and reviewing them was normal practice, IOL news website quotes him as saying. |
| He added that he did not owe anyone an apology and dismissed calls for him to resign. | He added that he did not owe anyone an apology and dismissed calls for him to resign. |
| The financial markets reacted positively to the news and there was a spike in the value of the currency when it broke. | |
| When President Zuma sacked Nhlanhla Nene as finance minister last December, replacing him with David van Rooyen, the widely-criticised move sent the rand to record lows and caused the stock market to tumble. | When President Zuma sacked Nhlanhla Nene as finance minister last December, replacing him with David van Rooyen, the widely-criticised move sent the rand to record lows and caused the stock market to tumble. |
| Within a few days Mr Gordhan was appointed in Mr Van Rooyen's place - a move designed to quell market discontent and restore some confidence. | Within a few days Mr Gordhan was appointed in Mr Van Rooyen's place - a move designed to quell market discontent and restore some confidence. |
| Many analysts believe that President Zuma would like to replace Mr Gordhan, who had previously served as South Africa's finance minister from 2009 until 2014. | Many analysts believe that President Zuma would like to replace Mr Gordhan, who had previously served as South Africa's finance minister from 2009 until 2014. |