Ramaphosa Targets Growth, Graft With New South African Cabinet

finance.yahoo.com

- finance.yahoo.com | 10 months ago

Ramaphosa Targets Growth, Graft With New South African CabinetMore (Bloomberg) -- South African President Cyril Ramaphosa took a step toward putting Africa’s most industrialized economy on a growth path and fighting graft by naming a slimmed down cabinet that retained Finance Minister Tito Mboweni and Public Enterprises Minister Pravin Gordhan in their posts.

The reappointment of his deputy David Mabuza, who’s been implicated in a string of scandals, reflects the political trade-offs he’s had to make due to his tenuous hold on the deeply divided ruling African National Congress. Since securing a five-year term when the ANC won a parliamentary majority on May 8, Ramaphosa, 66, has vowed to clean up a government discredited under his predecessor, Jacob Zuma.

The rand gained 0.

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