Abrahams: Justice Minister has been briefed on Gordhan summons

The NPA boss announced today that Gordhan has been summoned to appear in court early next month.

NPA head Shaun Abrahams. Picture: Christa Eybers/EWN

JOHANNESBURG - Prosecutions Boss Shaun Abrahams says he has briefed Justice Minister Michael Masutha on the decision to prosecute Finance Minister Pravin Gordhan with the understanding that he would in turn brief President Jacob Zuma.

Abrahams announced today that Gordhan and former Sars officials, Ivan Pillay and Oupa Magashula, have been summoned to appear in court early next month on several charges including fraud.

WATCH: NPA outlines reasons behind Gordhan summons

The matter relates to the approval of early retirement for Pillay and his subsequent re-appointment to the revenue services in 2010.

Analysts say the latest developments around Gordhan will further dent investors' appetite for the rand and that they raise concern about the future of the National Treasury.

Today the rand has lost around 3.5% against the dollar. At 3pm, the rand was trading at R14.26 to the dollar.