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In South Africa Zuma says has confidence in finance minister, can't intervene in probe

Zuma said he could not intervene in the investigations despite the negative impact the probe has caused on the economy

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South Africa to act on any Brexit shocks on the economy: Finance Minister play

South Africa to act on any Brexit shocks on the economy: Finance Minister

(Reuters)

South African President Jacob Zuma said on Thursday he has full confidence in Finance Minister Pravin Gordhan, who is under police investigation over a suspected spy unit at the tax service.

Zuma said he could not intervene in the investigations despite the negative impact the probe has caused on the economy, according to a statement released by the presidency.

The rand, which had tumbled since Tuesday in response to the investigation, extended gains to 1.3 percent after Zuma's statement.

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