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ANC urges Gordhan to co-operate with NPA

The ANC says it views recent developments surrounding the Finance Minister in a serious light.

FILE: Finance Minister Pravin Gordhan. Picture: World Economic Forum.

JOHANNESBURG - The African National Congress (ANC) has urged Finance Minister Pravin Gordhan to fully co-operate with the National Prosecuting Authority (NPA).

Gordhan has questioned the timing of a fraud charge being brought against him.

The ANC's Khusela Sangoni explains: "As the ANC we view this matter in a very serious light, given the fact that it had a very detrimental effect on our economy. We hope today's announcement brings us closer to uncovering the truth, bringing this matter to finality."

NPA head Shaun Abrahams insists the decision is not politically motivated.

He says a court date has been set for next month.

The fraud charge relates to an early retirement payout made to ex-deputy Sars commissioner Ivan Pillay.

Pillay and his former boss Oupa Magashula are also facing legal action relating to that payment of R1.2 million.

WATCH: NPA outlines reasons behind Gordhan summons

GORDHAN DOING 'FINE'

Meanwhile, Gordhan says he's feeling "just fine" after being issued with that summons.

Gordhan was due to begin his keynote address at the Gauteng government's open tender seminar, when he received notice that legal documents had been delivered to his house.

While his legal team is expected to issue a statement later today, the Finance Minister has raised questions about who the Hawks are servicing.

Gordhan finished off his morning at the seminar by signing autographs and taking selfies with those who expressed their support for him.

Despite his display of high spirits, Gordhan did express concern about the mandate being executed by the Hawks following investigations into his conduct on Sars related matters.



But the NPA, which has taken steps to charge Gordhan in connection with insurance fraud, insists there is no political interference.

WATCH: Abrahams: No political interference in Gordhan summons

MARKETS REACT

The rand was the second highest emerging market currency after the Mexican peso yesterday due to a return in risk appetite.

But today, the currency fell in a matter of minutes by as much as 3% when Abrahams announced Gordhan was being summonsed to appear in court next month.

Reports of the possibility Gordhan's arrest earlier this year also sent investors scurrying, as they raised concerns about the country's fiscal direction.

The rand was forecast to reach a level of R13 to the dollar before year-end.