Police clash with protesters in South Africa
South African police have fired stun grenades to disperse anti-government protesters marching towards the parliament in Cape Town.
Police on Thursday attacked protesters who were threatening to breach barricades outside the parliament hours before an annual state-of-the-nation speech by President Jacob Zuma.
Prior to reaching the parliament the protesters had marched through Cape Town's main street chanting, "Zuma Must Fall!"
The angry protesters accuse the 73-year-old leader of not only being corrupt, but they also say his poor decisions are harming the country's economy.
Supporters of South Africa's ruling party, the African National Congress, staged a pro-Zuma rally in Cape Town, as well.
Zuma's speech is scheduled to be aired on state TV at 1900 local time (1700 GMT).
The speech comes amid corruption allegations and mismanagement issues linked to 23 million USD paid by the government to renovate Zuma’s private house at a time when the African continent’s industrial powerhouse has dropped to its lowest level of economic growth in years.
In addition, the country’s capitalists and stock market investors are frustrated by Zuma over axing two finance ministers in one week last December.
In a move claimed to upgrade the economy, Finance Minister Nhlanhla Nene was sacked and replaced by relatively unknown lawmaker, David van Rooyen.
This choice plunged the financial market into a vortex.
Zuma then replaced van Rooyen, in a matter of days, with the admired and experienced politician, and former finance minister, Pravin Gordhan.
Financial analysts say both of Zuma’s decisions were detrimental to the market by adding instability to an ailing economy in need of commitment.
"The markets will be looking for some level of commitment from government that it remains committed to sustainable fiscal policy and a generally pro-business, pro-investment environment," BNP Paribas Securities SA economist Jeffrey Schultz said.
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