August 25, 2016 / 9:42 AM / a year ago

South Africa's Zuma says has confidence in finance minister, can't intervene in probe

JOHANNESBURG (Reuters) - South African President Jacob Zuma said on Thursday he has full confidence in Finance Minister Pravin Gordhan, who is under police investigation over a suspected spy unit at the tax service.

ANC leader Jacob Zuma greets supporters during his election campaign in Atteridgeville, South Africa July 5, 2016. REUTERS/Siphiwe Sibeko/File Photo

Zuma said he could not intervene in the investigations despite the negative impact the probe has caused on the economy, according to a statement released by the presidency.

The rand, which had tumbled since Tuesday in response to the investigation, extended gains to 1.3 percent after Zuma’s statement.

Reporting by James Macharia; editing by John Stonestreet

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