CABINET RESHUFFLE BRINGS CHANGE TO SOUTH AFRICA’S ECONOMIC PORTFOLIO

PRETORIA, The Cabinet reshuffle announced by President Cyril Ramaphosa on Monday night will bring changes in the economic portfolio with Nhlanhla Nene returning as Finance Minister after being dropped by former president jacob Zuma in December 2015.

Nene, who served as Finance Minister from 26 May 2014 until 9 December 2015, takes over the reins at the National Treasury from Malusi Gigaba, who last Wednesday made his inaugural State of the Nation Address in Parliament.

The Minister had also been co-chairperson of the Joint Budget Committee of parliament from October 2002 to August 2005, and chairperson of the Parliamentary Committee on Finance from August 2002 to November 2008. He was a member of the local organizing for the FIFA 2010 World Cup.

Nene, who is taking over from Gigaba, who has been moved to the Department of Home Affairs (Interior), will be assisted by incoming Deputy Minister Mondli Gungubele, a former Mayor of Ekurhuleni Municipality. He also headed the Economic Affairs Portfolio Committee in the Gauteng provincial legislature (2004 – 2007).

The Executive’s economic portfolio has also gained a change in the Department of Public Enterprises with the appointment of Pravin Gordhan, who had served two stints as Finance Minister.

Gordhan takes over a portfolio which has among the biggest State-owned companies in the country such as logistics group Transnet and power utility Eskom, from former Minister Lynne Brown, who has been dropped from the Cabinet.

Meanwhile, Jeff Radebe, the former Minister in The Presidency for Planning, Monitoring and Evaluation will take over the Energy portfolio from former Minister David Mahlobo.

He has served in every administration since being appointed to South Africa’s first Cabinet under President Nelson Mandela as Minister of Public Works from 1994 to 16 June 1999.

Source: NAM NEWS NETWORK