Mcebisi Jonas The South Africa’s former deputy finance minister has resigned

Johannesburg – South Africa’s former deputy finance minister, Mcebisi Jonas, has resigned as a legislator for the ruling African National Congress (ANC), dealing another blow to the embattled party, on Thursday. President Jacob Zuma sacked Jonas on March 30th together with finance minister Pravin Gordhan. Mcebisi Jonas The two had enjoyed the confidence of investors, and their sacking sent the rand into free fall. The rating agency Standard and Poor’s downgraded South Africa’s sovereign credit rating to junk status. Zuma’s move sparked calls for him to step down and threatened to split the ANC. But the party rallied behind the president again on Wednesday, with ANC Secretary General Gwede Mantashe saying the party accepted that Zuma had fired Gordhan because the relationship between the two had broken down.