South African Home Affairs Minister Malusi Gigaba resigned on Tuesday, the presidency announced, two weeks after a public standards watchdog said he had violated the constitution by lying under oath in court.

Gigaba, a close ally of ousted former president Jacob Zuma, had recently vowed not to step down after also being caught up in a leaked sex tape scandal.

A statement from President Cyril Ramaphosa's office announced that Gigaba said he had resigned "to relieve the President from undue pressure" and to allow Ramaphosa to focus on saving the country from "economic meltdown".

Gigaba, 47, was once seen as rising star of the ANC ruling party, leading the party's youth wing and being quickly promoted into the ministerial ranks.

But he became entangled in graft allegations during Zuma's time in office.

Gigaba's exit removes a key Zuma loyalist from the government led since February by Ramaphosa, who has vowed to root out the corruption reputed to have flourished under Zuma.

Gigaba was reprimanded last month by the&nbsp;public protector ombudswoman after he testified in a 2017 court case filed by a company controlled by the wealthy Oppenheimer family.

Ombudswoman Busisiwe Mkhwebane recommended that Ramaphosa take disciplinary action against the minister for "telling an untruth under oath and before a court of law".

Zuma ally

The allegations were probed after a complaint from the opposition Democratic Alliance (DA) party.

The court case hinged on whether Gigaba had given the Oppenheimers approval to have a private terminal at Johannesburg airport.

Gigaba has also said he was recently the target of extortion attempts after a private sex video was stolen by hacking.

Gigaba served as finance minister for a year under Zuma, who was ousted as president by the ANC party in February over mounting graft scandals.

When Ramaphosa succeeded Zuma, he moved Gigaba to the home affairs ministry.

Gigaba has been linked to corruption allegations against the wealthy Gupta family, who are suspected of benefitting from unfair and hugely lucrative government contracts under Zuma.

A judicial inquiry, which opened in August, is investigating allegations that Zuma and the Guptas organised a web of corrupt deals at government departments and public enterprises in a scandal known as "state capture".

All the accused deny any wrongdoing.

South Africa, Africa's most advanced economy, slipped into recession in the second quarter of this year, and suffers a stubbornly high unemployment of about 28 percent.

The country will hold general elections in May.

Nhlanhla Nene resigned as finance minister last month over undisclosed meetings with the Guptas.

South African Home Affairs Minister Malusi Gigaba resigned on Tuesday, the presidency announced, two weeks after a public standards watchdog said he had violated the constitution by lying under oath in court.

South African Home Affairs Minister Malusi Gigaba resigned on Tuesday, the presidency announced, two weeks after a public standards watchdog said he had violated the constitution by lying under oath in court. Gigaba, a close ally of ousted former president Jacob Zuma, had recently vowed not to step down after also being caught up in a leaked sex tape scandal. A statement from President Cyril Ramaphosa's office announced that Gigaba said he had resigned "to relieve the President from undue pressure" and to allow Ramaphosa to focus on saving the country from "economic meltdown". Gigaba, 47, was once seen as rising star of the ANC ruling party, leading the party's youth wing and being quickly promoted into the ministerial ranks. But he became entangled in graft allegations during Zuma's time in office. Gigaba's exit removes a key Zuma loyalist from the government led since February by Ramaphosa, who has vowed to root out the corruption reputed to have flourished under Zuma. Gigaba was reprimanded last month by the public protector ombudswoman after he testified in a 2017 court case filed by a company controlled by the wealthy Oppenheimer family. Ombudswoman Busisiwe Mkhwebane recommended that Ramaphosa take disciplinary action against the minister for "telling an untruth under oath and before a court of law". Zuma ally The allegations were probed after a complaint from the opposition Democratic Alliance (DA) party. The court case hinged on whether Gigaba had given the Oppenheimers approval to have a private terminal at Johannesburg airport. Gigaba has also said he was recently the target of extortion attempts after a private sex video was stolen by hacking. Gigaba served as finance minister for a year under Zuma, who was ousted as president by the ANC party in February over mounting graft scandals. When Ramaphosa succeeded Zuma, he moved Gigaba to the home affairs ministry. Gigaba has been linked to corruption allegations against the wealthy Gupta family, who are suspected of benefitting from unfair and hugely lucrative government contracts under Zuma. A judicial inquiry, which opened in August, is investigating allegations that Zuma and the Guptas organised a web of corrupt deals at government departments and public enterprises in a scandal known as "state capture". All the accused deny any wrongdoing. South Africa, Africa's most advanced economy, slipped into recession in the second quarter of this year, and suffers a stubbornly high unemployment of about 28 percent. The country will hold general elections in May. Nhlanhla Nene resigned as finance minister last month over undisclosed meetings with the Guptas.

South Africa home minister resigns after watchdog ruling

South Africa on Tuesday announced visa reforms aimed at luring investment and tourists to help lift the continent's most advanced economy out of recession.

Home Affairs Minister Malusi Gigaba unveiled a raft of regulations allowing frequent visitors and foreign business travellers to have long-term multiple-entry visas of up to 10 years.

The rules will take effect from next month.

"Changes to our visa architecture have the potential to boost tourism and make business travel more conducive," Gigaba told reporters.

"We are simplifying visa requirements for countries such as China and India."

Applicants from those two countries will be able to have a 10-year visa processed within five days.

"This arrangement is meant to attract business people and prospective investors," he said.

Anti-trafficking rules requiring parents to travel with birth certificates of their children will be simplified, he added.

Tourism contributes 10 per cent of South Africa's total Gross Domestic Product (GDP).

Visa reforms are part of an economic stimulus plan announced by President Cyril Ramaphosa on Friday to boost investor confidence after South Africa entered a recession in the second quarter of this year.

The plan also includes large-scale infrastructural development.

Data showing that South Africa had slipped into recession dealt a blow to Ramaphosa who came to office in February ahead of elections next year.

South Africa on Tuesday announced visa reforms aimed at luring investment and tourists to help lift the continent's most advanced economy out of recession. Home Affairs Minister Malusi Gigaba unveiled a raft of regulations allowing frequent visitors and foreign business travellers to have long-term multiple-entry visas of up to 10 years.

South Africa on Tuesday announced visa reforms aimed at luring investment and tourists to help lift the continent's most advanced economy out of recession. Home Affairs Minister Malusi Gigaba unveiled a raft of regulations allowing frequent visitors and foreign business travellers to have long-term multiple-entry visas of up to 10 years. The rules will take effect from next month. "Changes to our visa architecture have the potential to boost tourism and make business travel more conducive," Gigaba told reporters. "We are simplifying visa requirements for countries such as China and India." Applicants from those two countries will be able to have a 10-year visa processed within five days. "This arrangement is meant to attract business people and prospective investors," he said. Anti-trafficking rules requiring parents to travel with birth certificates of their children will be simplified, he added. Tourism contributes 10 per cent of South Africa's total Gross Domestic Product (GDP). Visa reforms are part of an economic stimulus plan announced by President Cyril Ramaphosa on Friday to boost investor confidence after South Africa entered a recession in the second quarter of this year. The plan also includes large-scale infrastructural development. Data showing that South Africa had slipped into recession dealt a blow to Ramaphosa who came to office in February ahead of elections next year.

South Africa relaxes visa rules to attract investors, tourists

South Africa will use its annual budget next year to outline &quot;decisive&quot; policy to strengthen its fiscal framework, the finance ministry said on Saturday after S&amp;P Global Ratings cut its local currency debt to &quot;junk&quot; status.

S&amp;P announced the downgrade on Friday, citing a further deterioration in the country&#39;s economic outlook and public finances. Moody&#39;s, meanwhile, placed South Africa on review for a downgrade.

&quot;The 2018 Budget will outline decisive and specific policy measures to strengthen the fiscal framework,&quot; the finance ministry said in a statement, without giving more detail.

The downgrade by S&amp;P comes after finance minister Malusi Gigaba shocked markets on October 25 by flagging sharply weaker growth expectations, a wider budget deficit, and rising government debt.

The government has since appointed a judicial commission of inquiry into the causes of a 50 billion rand ($3.6 billion) revenue shortfall and to investigate a possible erosion of the nation&#39;s revenue collection capability.

Economic growth has slowed to near zero in recent years and business and consumer sentiment have plumbed multi-decade lows as political uncertainty weighs on the economy.

Infighting within the ruling African National Congress ahead of a conference in December to elect a successor to President Jacob Zuma as party chief has also sapped investor confidence.

&quot;Restoring business and consumer confidence, and catalysing inclusive growth is the top priority of government,&quot; the finance ministry said.

South African businesses have been in talks with the government more than a year to try to avoid credit rating downgrades, but when Zuma in March replaced finance minister Pravin Gordhan with Gigaba, S&amp;P and Fitch cut its ratings a notch within a week.

Nedbank, one of the nation&#39;s largest lenders, on Saturday warned that the latest move by S&amp;P will make it more expensive for government and the private sector to raise funding.

&quot;The February budget statement is South Africa&rsquo;s last chance to demonstrate the structural reforms and fiscal consolidation that are required to improve economic growth prospects and prevent Moody&rsquo;s from also downgrading the local currency debt to below investment grade,&quot; Chief Executive Mike Brown said.

A Moody&#39;s downgrade would trigger the exit of South Africa&#39;s local currency debt from important global bond indices, Brown added.

'Restoring business and consumer confidence, and catalysing inclusive growth is the top priority of government,' said Malusi Gigaba, finance minister

South Africa will use its annual budget next year to outline "decisive" policy to strengthen its fiscal framework, the finance ministry said on Saturday after S&P Global Ratings cut its local currency debt to "junk" status. S&P announced the downgrade on Friday, citing a further deterioration in the country's economic outlook and public finances. Moody's, meanwhile, placed South Africa on review for a downgrade. "The 2018 Budget will outline decisive and specific policy measures to strengthen the fiscal framework," the finance ministry said in a statement, without giving more detail. The downgrade by S&P comes after finance minister Malusi Gigaba shocked markets on October 25 by flagging sharply weaker growth expectations, a wider budget deficit, and rising government debt. The government has since appointed a judicial commission of inquiry into the causes of a 50 billion rand ($3.6 billion) revenue shortfall and to investigate a possible erosion of the nation's revenue collection capability. Economic growth has slowed to near zero in recent years and business and consumer sentiment have plumbed multi-decade lows as political uncertainty weighs on the economy. Infighting within the ruling African National Congress ahead of a conference in December to elect a successor to President Jacob Zuma as party chief has also sapped investor confidence. "Restoring business and consumer confidence, and catalysing inclusive growth is the top priority of government," the finance ministry said. South African businesses have been in talks with the government more than a year to try to avoid credit rating downgrades, but when Zuma in March replaced finance minister Pravin Gordhan with Gigaba, S&P and Fitch cut its ratings a notch within a week. Nedbank, one of the nation's largest lenders, on Saturday warned that the latest move by S&P will make it more expensive for government and the private sector to raise funding. "The February budget statement is South Africa’s last chance to demonstrate the structural reforms and fiscal consolidation that are required to improve economic growth prospects and prevent Moody’s from also downgrading the local currency debt to below investment grade," Chief Executive Mike Brown said. A Moody's downgrade would trigger the exit of South Africa's local currency debt from important global bond indices, Brown added.

South Africa to outline 'decisive' policy in 2018 after debt rating cut

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South Africa home minister resigns after watchdog ruling

South Africa relaxes visa rules to attract investors, tourists

South Africa to outline 'decisive' policy in 2018 after debt rating cut