Rand at 2-week high after SCA ruling on Zuma Spy Tapes appeal
ANC secretary-general Gwede Mantashe says they will ask the party's veterans for advice on the next step.
PRETORIA/JOHANNESBURG - The rand has climbed to its firmest level in two weeks, driven higher by Friday's court ruling that's upheld corruption charges against President Jacob Zuma.
The Supreme Court of Appeal (SCA) reaffirmed the High Court’s ruling that the 2009 decision to withdraw the case was irrational, which opens the way for Zuma to stand trial.
The court also accepted the National Prosecuting Authority’s (NPA) and Zuma's concessions that former prosecutions boss Mokotedi Mpshe relied on an incorrect provision in law to make the decision.
Judge Eric Leach says that revelations of an alleged conspiracy could not have informed the decision to discontinue the prosecution of Zuma.
Leach was critical of the NPA’s Willie Hofmeyer, saying that he was strained to find justification for Mokotedi Mpshe’s decision.
The judge questioned why it took them so long to realise that they had no case.
The Presidency and African National Congress has reacted to the news.
The Presidency has released a statement saying that it has noted the judgment and, while it is disappointed, it did anticipate the outcome.
African National Congress (ANC) secretary-general Gwede Mantashe says they will ask the party's veterans for advice on the next step.
He says the ANC needs the veterans’ wisdom to deal with what he describes as the “crisis point facing the movement”.
The ruling has piled further pressure on Zuma, who is already facing several scandals.
But Zuma denies any wrongdoing.
READ: The SCA's judgment on Zuma's spy tapes appeal
(Edited by Shimoney Regter)