Ramaphosa has thanked Nene for his service, while also wishing Mboweni luck in the post.
President Cyril Ramaphosa has announced Tito Mboweni as the new Minister of Finance.
Briefing the media, Ramaphosa said he had accepted Nhlanhla Nene’s resignation.
“I have accepted Nhlanhla Nene’s resignation as Minister of Finance. He defended the cause of proper clean governance. It is a measure of his character that he had taken this decision. He made an error of judgement”
Local media reported earlier this week that Nene had written to Ramaphosa, requesting that he be relieved of his duties in cabinet.
This is after he took to the stand in the judicial commission of inquiry into state capture, and admitted to having met the Gupta family on several occasions – this is contrary to what he told news channel eNCA back in 2015.
He revealed, during proceedings, that then President Jacob Zuma fired him in 2015 because he refused to sign the nuclear deal and for “toeing the Gupta line.”
The former minister issued an apology to South Africans on Friday, 5 October 2018, over meeting the Guptas and said it had been a mistake.
Ramaphosa said Mboweni, the former Governor of the Reserve Bank, brings in much-needed leadership.
“I am confident that Mr Mboweni will provide the leadership that is needed now”
On the state capture inquiry, Ramaphosa said: “No person should be above scrutiny and no person should be above the law. It is incumbent upon any person who may have any knowledge of any of the matters related to state capture, to provide it to the commission honestly and completely”