SCA spy tapes ruling should raise investor confidence - Gigaba

Finance Minister Malusi Gigaba also says the corruption charges against President Jacob Zuma raise political risks.

FILE: Finance Minister Malusi Gigaba. Picture: GCIS.

JOHANNESBURG - Finance Minister Malusi Gigaba says the reinstatement of corruption charges against President Jacob Zuma reaffirms the independence of South Africa’s courts and this should raise investor confidence.

Gigaba was in Washington as part of a delegation representing South Africa at the Annual Meetings of the World Bank Group and the International Monetary Fund.

The minister says he fully supports a Judicial Commission of Inquiry into corruption in the country.

However, during an interview with CNN’s Richard Quest, he said the corruption charges against Zuma raise political risks.

“It’s quite concerning but if you look at it from another angle it affirms the independence of our courts. It shows that South African judges and courts are independent enough to take decisions about whomsoever regardless of their political standing.”

Zuma himself is currently visiting Limpopo where he’s avoided questions on both his Cabinet reshuffle and the Spy Tapes ruling.

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(Edited by Zamangwane Shange)