The DA have come out warn us that if the arrest of the Finance Minister Pravin Gordhan passes through, it would affect the economy in bad way.
The country’s currency took a nose-dive when the news that he has been summoned by Hawks on Thursday.
After a strong run in recent weeks, the local currency has again breached the psychological R14 barrier.
It’s now trading at around R14.14 (at 10.38am) to the greenback, its lowest level in almost a month.
That’s after strengthening to a high for the year of R13.21 last week.
“You can already see depreciated the currency. If the minister were arrested, that would be a disaster for the economy,” said the DA Shadow Finance Minister David Maynier in an interview.
The Ministers office confirmed that he had received an invitation from the country’s crime unit on Monday, and that his set to take a legal action.
The Hawks have been investigating the establishment of a so-called spy unit within the Revenue Service.
The unit has since been shut down.
There are also reports that three former SARS executives have also been told to report to the Hawks.
It’s also been reported that Sars is probing tenders awarded between 2007 and 2014.
Gordhan was at the helm of the revenue service between 1999 and 2009.