Investors Favor Fuzile to Keep Top S. African Treasury PostBy
Director-general's five-year contract expires next month
Change would be negative, Standard Chartered's Khan says
South Africa’s government will announce in the next few weeks if it will replace Lungisa Fuzile as head of the National Treasury when his five-year contract ends in May, a move that could prolong months of investor unease over the management of the nation’s finances.
President Jacob Zuma roiled markets in December by replacing the respected Nhlanhla Nene as finance minister with a little-known lawmaker. While the president reappointed Pravin Gordhan four days later to the position that he held from 2009 until 2014 after pressure from political and business leaders, police are probing the minister’s involvement in establishing an allegedly covert investigative unit within the national tax agency.
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