Bankers Show Zuma His Limits as Weekend Lobbying Ends Chaos

Updated on
  • Bank leaders lobbied ANC officials to put pressure on Zuma
  • Zuma always knew not to touch Treasury or central bank

Zuma Feels Market Pressure in Finance Minister U-Turn

The biggest banks know better than to publicly take on South Africa’s ruling African National Congress. So when President Jacob Zuma sent markets plunging by replacing the finance minister with an obscure lawmaker, they rushed to lobby the ANC behind the scenes.

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