South Africa’s chief prosecutor has dropped fraud charges against Finance Minister Pravin Gordhan. 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.
After reviewing the charges, the head of South Africa’s National Prosecuting Authority (NPA), Shaun Abrahams, said there had been no criminal intent. Mr Gordhan had described the allegations as without merit and politically motivated. 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.