https://www.engineeringnews.co.za

Gordhan flying back to SA tonight – Treasury

Finance Minister Pravin Gordhan

Finance Minister Pravin Gordhan

Photo by Duane Daws

27th March 2017

By: News24Wire

  

Font size: - +

Finance Minister Pravin Gordhan will comply with President Jacob Zuma’s order and return to South Africa on Monday evening.

That is according to Treasury spokesperson Yolisa Tyantsi, who told Fin24 on Monday that arrangements were being made to fly him back to South Africa later on Monday evening.

Gordhan told Bloomberg on Monday that his London visit would go ahead.

The minister and the rest of the group started meeting investors in the UK on Monday, according to Jabu Mabuza, president of Business Unity South Africa and chairperson of Telkom and part of the delegation, who spoke to Bloomberg by phone from London.

The Presidency said in a statement earlier that Zuma “has instructed … Gordhan and deputy minister Mcebisi Jonas to cancel the international investment promotion roadshow to the United Kingdom and the United States and return to South Africa immediately”.

Gordhan told Reuters on the sidelines of the UK investor roadshow he had not been recalled to South Africa by his President, but "asked to come back home" and had been planning to do so anyway.

Gordhan said he had not planned to be part of the US leg of the investor roadshow anyway, according to Reuters.

On whether he expected a Cabinet reshuffle, he said: "That's the boss' prerogative."

Treasury said on Saturday that Gordhan, Jonas, director general Lungisa Fuzile, key National Treasury officials, business and labour will embark on a non-deal international investor roadshow.

“The delegation will spend two days in London (27 - 28 March), one day in Boston (29 March) and two days in New York (30-31 March).

“This follows extensive engagements by senior National Treasury officials with domestic investors following the tabling of the 2017 Budget by the Minister of Finance.

“Treasury has a consistent and long standing strategy of engaging investors on a regular basis. The purpose of this is to provide an update on the most recent developments, engage constructively with investors and share government's thinking behind its' latest policy proposals.”

There is speculation that Zuma is on the verge of a Cabinet reshuffle, while Gupta-owned Sahara Computers filed papers in the North Gauteng High Court demanding that Gordhan represent himself in the court hearing starting on Tuesday.

That court hearing comes after Gordhan filed for a declaratory order, confirming that Treasury may not intervene between a bank and its private client.

South Africa’s top four banks blacklisted the accounts of the Gupta-owned business entities, including Oakbay Investments and Sahara Computers regarding to allegations of corruption due to their links with Zuma.

By obeying Zuma’s orders to return, Gordhan has ensured he does not have double standards, as he has said that SA Revenue Services Commissioner Tom Moyane refuses to follow his orders.

Edited by News24Wire

Comments

Latest News

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.228 0.291s - 174pq - 2rq
Subscribe Now