The initial announcement by National Prosecuting Authority head Shaun Abrahams of charges against Finance Minister Pravin Gordhan, Ivan Pillay and Oupa Magashula made international headlines and had a negative effect on the strength of the rand following his announcement.

On Monday, there was a collective sigh of relief when Abrahams revealed in a press conference that after his investigation he would not press any charges against Pillay, Magashula and Gordhan.

One of those individuals who was happy about the news was Virgin media conglomerate and billionaire Sir Richard Branson.

“I met him he last time I was in South Africa. I thought that he was a tremendous, fantastic individual and he epitomized the stability that South Africa needed.

“The wrong decision being made could’ve been devastating for South Africa,” Branson said. “The right decision’s been made and South Africa needs someone at the wheel of the ship to steer it into sound and safe waters, otherwise South Africa could go on the rocks very easily.”

Branson is currently in the country as he attended the launch of another new venture, Virgin Money South Africa a subsidiary of Virgin Money Insurance (VMI).