Retaining Mboweni, Gordhan Key To Rooting Out Rot At State Owned Enterprises

iafrica.com

- iafrica.com | 10 months ago

President Cyril Ramaphosa has reorganised his economic ministries, keeping Finance Minister Tito Mboweni at Finance, while Public Enterprises Minister Pravin Gordhan is set to continue his clean-up of state-owned enterprises.

As the country waited for the Cabinet announcement, political uncertainty helped push the rand to a seven-month low, but it recovered soon after Ramaphosa unveiled his new, somewhat slimmer executive on Tuesday night. Retaining Mboweni in Finance and Gordhan at Public Enterprises are key to rooting out the rot at state-owned enterprises and overhauling Eskom.

Markets will welcome the retention of Mboweni as Finance Minister and Gordhan at Public Enterprises, despite his running battle with the Public Protector.

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