South Africaâ€™s President Jacob Zuma has sacked Finance Minister Pravin Gordhan from his cabinet.
The decision was reached after Top ANC leaders met with Zuma at his Pretoria residence at his request.
President Zuma: The changes bring some younger MPs & women into the National Executive in order to benefit from their energy, experience.
"President Zuma: The changes bring some younger MPs & women into the National Executive in order to benefit from their energy, experience Â â€” South African Gov (GovernmentZA) March 30, 2017"
Gordhanâ€™s sacking comes after days of speculation that has rocked the countryâ€™s markets and currency.
Gordhan was appointed finance minister in 2009 before he was appointed cooperative minister in 2014. He was then reappointed finance minister in December 2015.
Rumours of his removal began on the eve of the countryâ€™s 2016 budget reading.
Gordhan has been replaced by Malusi Gigaba who previously held the post of Minister of Home Affairs.
Nine ministers along with six deputies were also hit by Thursdayâ€™s reshuffle exercise.