Former Reserve Bank governor, Tito Mboweni, has been sworn in as the new Finance Minister following the resignation of Nhlanhla Nene.
President Ramaphosa called a special media briefing in Cape Town on Tuesday to announce that he had accepted Nene’s resignation.
It came in the wake of his admission before the State Capture Commission that he had visited the Gupta compound in Saxonwold in Johannesburg on several occasions, despite previously denying any contact with members of the controversial family.
According to the President, the now axed minister indicated to him that there was a risk that the developments around his testimony will detract from the important task of serving the people of SA. Ramaphosa, therefore, accepted the resignation in the interest of good governance.
He also had kind words for Nene, saying that “during his tenure as Minister of Finance, Mr Nene served the people and government of South Africa with diligence and ability”.
“It is a measure of his character and his commitment to the national interest that he has taken this decision to resign in the wake of errors of judgment, even though he has not been implicated in acts of wrongdoing,” President Ramaphosa said.
