S’Africa’s president Jacob Zuma sacks finance minister

South Africa’s President Jacob Zuma has sacked Finance Minister Pravin Gordhan after days of speculation that rocked the country’s markets, reports say.

Local media report that several other ministers have been fired in what is seen as a major cabinet reshuffle.

Earlier this week, President Zuma recalled Mr Gordhan from planned events in the UK and US.

Mr Zuma is expected to make an announcement on the latest changes shortly, reports say.

Last October, Mr Gordhan was charged with fraud – but the charges were later dropped.

He has described the allegations as politically motivated.

Mr Gordhan has been seen as standing up to President Zuma in cabinet and has warned against corruption becoming rampant.

The South African Communist Party, an ally of the governing African National Congress, had earlier lodged a formal objection to plans to dismiss Mr Gordhan, who is widely respected internationally.

Many senior ANC figures also opposed the finance minister’s removal.