Charges against Gordhan raise concern about Treasury’s stability: JCCI

The announcement that Finance Minister Pravin Gordhan has been summonsed on fraud charges “raises concerns about the short-to-medium term stability at the National Treasury”‚ the Johannesburg Chamber of Commerce and Industry (JCCI) said on Wednesday.

Chamber president Ernest Mahlaule noted that it came “at a time when the economy remains fragile”.

“We would like to urge all involved in this matter to follow due process in order to quickly return the national focus to issues that will assist business‚ government and labour to expedite efforts to revive growth‚ restore confidence in the financial markets and put the economy on a sustainable path‚” he added.

Mahlaule commented that the “action does not come entirely as a surprise amid the National Prosecuting Authority’s previously announced investigation into Gordhan”.

“It is of paramount importance to ensure that due care is taken as the legal processes unfold so that investors are reassured about the rule of law in South Africa and that the country’s reputation as a viable investment destination is not harmed‚” Mahlaule added. – TMG Digital