BREAKING: Pravin axed

President Jacob Zuma has finally removed Finance Minister Pravin Gordhan, following a week of intense speculation.

He will be replace by Home Affairs Minister Malusi Gigaba.

A major cabinet reshuffle is unfolding and at least nine ministers and six deputies are said to have been axed.

Sources confirmed that Gordhan has officially been removed from his position as Zuma met with ministers individually this evening.

The meetings follow an earlier meeting with the ANC's top leaders.

Zuma on Monday recalled Gordhan from roadshows in London and the US aimed at investors and ratings agencies, triggering renewed speculation of a cabinet reshuffle.

The president also cancelled deputy finance Minister Mcebisi Jonas’ trip to the same events. It is believed Jonas will also be removed.

Gordhan was believed to the main target of the reshuffle.