New Cabinet Announced
A new president always means a new cabinet. These ministers are appointed by the President to help steer the country. This year new President Cyril Ramaphosa has walked a fine line in appeasing both factions within the ruling party and appointed 10 new ministers (to replace the previous one). Some of the appointments will directly impact on the finance industry.
‘Nhlanhla Nene is back as Finance Minister’
Nhlanhla Nene is back as Finance Minister after losing his job in 2015 when fired by then-president Zuma.
Former Ekurhuleni Mayor Mondli Gungubele has been appointed as Deputy Minister of Finance.
Former Finance Minister Malusi Gigaba finished his stay in that portfolio with his budget speech and is now appointed back to Home Affairs (which is a post he had filled up till March 2017).
Pravin Gordhan is back as Public Enterprise Minister.
Former Mpumalanga Premier David Mabuza has been appointed as Deputy President
Nkosazana Dlamini-Zuma has been appointed Minister in the presidency responsible for monitoring and planning.
Many say that the Cabinet is bloated and there are too many members and this is something the Presidency say they are reviewing but have not changed for now.