Nene resigns, Tito Mboweni appointed as SA Finance Minister

Nene resigns, Tito Mboweni appointed as SA Finance Minister
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SA Presidency

South African President Cyril Ramaphosa has accepted the resignation of Finance Minister Nhlanhla Nene.
Former South African Reserve Bank Governor Tito Mboweni replaces Nene as Finance Minister.
Ramaphosa announced the resignation Tuesday afternoon and said there has been much discussion among South Africans on matters that arose in the course of the testimony of minister Nene at the Commission of Inquiry into State Capture.
“As a consequence of these developments, Minister Nene submitted a letter of resignation this morning in which he requested that I relieve him of the position of the Minister of Finance.
“He has indicated that there is a risk that the developments around his testimony will detract from the important task of serving the people of South Africa, particularly as we work to re-establish public trust in government,” said Ramaphosa.