UPDATE | Tito Mboweni appointed as SA’s new finance minister
President Cyril Ramaphosa has appointed former Reserve Bank Governor Tito Mboweni as his new finance minister.
This comes after former finance minister Nhlanhla Nene decided to resign from the position on Tuesday morning following public outrage sparked by his public apology over his multiple meetings with the Gupta family at their private home.
Ramaphosa made the announcement at a media briefing at his Cape Town office‚ Tuynhuys.
Mboweni also served as labour minister under late President Nelson Mandela before he went on to serve as Reserve Bank governor.
President Cyril Ramaphosa called a late afternoon media conference in Cape Town on October 9 2018 to notify the nation of his decision to let finance minister Nhlanhle Nene go. Ramaphosa announced Tito Mboweni as the new finance minister.