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| South Africa's President Zuma sacks finance minister | South Africa's President Zuma sacks finance minister |
| (about 2 hours later) | |
| South Africa's President Jacob Zuma has sacked Finance Minister Pravin Gordhan after days of speculation that rocked the country's markets and currency. | |
| Mr Gordhan will be replaced by Malusi Gigaba, said a statement issued late on Thursday by the president's office. | |
| Earlier this week, President Zuma recalled Mr Gordhan from planned events in the UK. | |
| Sfiso Buthelezi will become Deputy Finance Minister, replacing Mcebisi Jonas. | Sfiso Buthelezi will become Deputy Finance Minister, replacing Mcebisi Jonas. |
| President Zuma also made a number of other changes in the cabinet. | |
| "I have directed the new ministers and deputy ministers to work tirelessly with their colleagues to bring about radical socioeconomic transformation and to ensure that the promise of a better life for the poor and the working class becomes a reality," President Zuma's statement said. | "I have directed the new ministers and deputy ministers to work tirelessly with their colleagues to bring about radical socioeconomic transformation and to ensure that the promise of a better life for the poor and the working class becomes a reality," President Zuma's statement said. |
| Last October, Mr Gordhan was charged with fraud - but the charges were later dropped. | Last October, Mr Gordhan was charged with fraud - but the charges were later dropped. |
| He has described the allegations as politically motivated. | He has described the allegations as politically motivated. |
| Mr Gordhan has been seen as standing up to President Zuma in cabinet and has warned against corruption becoming rampant. | Mr Gordhan has been seen as standing up to President Zuma in cabinet and has warned against corruption becoming rampant. |
| The South African Communist Party, an ally of the governing African National Congress, had earlier lodged a formal objection to plans to dismiss Mr Gordhan, who is widely respected internationally. | The South African Communist Party, an ally of the governing African National Congress, had earlier lodged a formal objection to plans to dismiss Mr Gordhan, who is widely respected internationally. |
| Many senior ANC figures also opposed the finance minister's removal. | Many senior ANC figures also opposed the finance minister's removal. |
| Meanwhile, the Democratic Alliance, South Africa's main opposition party, said it would call a vote of no-confidence in President Zuma in parliament. | |
| Mr Gordhan's recall from the UK caused South Africa's rand to lose nearly 5% of its value against major currencies earlier this week. | |
| Pressure has been growing on Mr Zuma to step down amid numerous allegations of corruption. | |
| He denies the claims. |