South Africa’s currency gained after the nation’s fractious ruling coalition weathered its latest storm when a key partner opted to remain in the government.
President Cyril Ramaphosa fired the Democratic Alliance’s (DA’s) Andrew Whitfield from his deputy trade minister’s post last week for travelling abroad without permission.
The decision was criticised by DA leader John Steenhuisen, who accused Ramaphosa of double standards and gave him a two-day ultimatum to fire ministers from his African National Congress (ANC) who’ve been implicated in corruption.
The DA’s top leadership decided at a weekend meeting against leaving the so-called government of national unity or submitting a motion of no confidence in the president, instead resolving to vote against some departments’ budget allocations and boycott a national dialogue on the country’s future.
The rand gained as much as 0.7% and traded 0.4% stronger against the dollar at 17.76 by 12:34 pm on Monday after it
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