Sunday, 21 October, 2018

Ramaphosa accepts Nene resignation, Mboweni sworn in as finance minister

Cyril Ramaphosa Should Nene go? Here's what SA's political heavyweights have to say Views from UDM leader Bantu
Gerardo Duncan | 10 October, 2018, 09:44

Ramaphosa said Nene wrote to him on Tuesday requesting to step down‚ and he had made a decision to accede to the request.

"[He] is, at least, known to market participants, ratings agencies and worldwide financial institutions, who closely follow events in South Africa", the DA's Shadow Minister of Finance David Maynier said in a statement.

Weekend reports indicated that Nene's future as finance minister was on shaky ground following his admission to the meetings, with some claiming Gauteng finance MEC Barbara Creecy could be his replacement.

Nene revealed for the first time when he testified before the Commission of inquiry into state capture, that he's had several private meetings with the Guptas at their residence and business premises.

Nene is a key ally of Ramaphosa, who reappointed him finance minister in a cabinet reshuffle shortly after he became president earlier this year.

South African President, Cyril Ramaphosa, has appointed former Central Bank Governor, Tito Mboweni, as his Finance Minister on Tuesday, after he had accepted the resignation of Nhlanhla Nene.

The inquiry, which opened in August, is investigating allegations that Zuma organised the plunder of government departments and public enterprises in a scandal known as "state capture".

Last week, Nene told an inquiry panel about the meetings he had held with the business family, a fact that he had earlier denied. They fled the country after Mr. Zuma's resignation in February and now live in Dubai.

"These ministers have demonstrated the same disregard of ethical conduct shown by Nene and like Nene they too have undermined parliament's accountability mechanisms", the EFF said in a statement.

The party, which has been vocal in its demand for Nene's sacking over the past few days, now wants Ramaphosa to fire Minister in the Presidency Bathabile Dlamini and Home Affairs Minister Malusi Gigaba. He served as labour minister in the cabinet of former president Nelson Mandela in the mid-1990s and was widely praised for his work as the governor of the South African Reserve Bank from 1999 to 2009.

This was Nene's second stint as finance minister.

Mboweni clearly loves the social media platform, giving people a glimpse into his life, political thoughts and sense of humour.

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