Tito Mboweni 'accepted' & welcomed as new finance minister
The DA says Mboweni should clarify his view on government policy before he delivers the Medium-Term Budget Policy statement in two weeks’ time.
CAPE TOWN - While the Democratic Alliance (DA) says Tito Mboweni will have the advantage of being able to hit the ground running as the new finance minister, the Congress of the People wants to rally the opposition to bring a motion of no confidence in President Cyril Ramaphosa’s Cabinet.
The Economic Freedom Fighters (EFF) has welcomed Nhlanhla Nene quitting but says there are other members of Ramaphosa’s Cabinet who should also be stepping down.
The DA says although Mboweni has been plucked from political obscurity to succeed Nene, there are positives.
The party says he’s known to the market, ratings agencies and international institutions.
But the DA says he should clarify his view on government policy before he delivers the Medium-Term Budget Policy statement in two weeks’ time.
DA leader Mmusi Maimane says Nene was right to step down.
“It demonstrates the fact that there are more people in the ANC who must account and who should also take the same action when it comes to their implications when engaging with the Guptas.”
The ANC has commended Nene for stepping down, saying he’s shown commitment to the wellbeing of the country.
Spokesperson Pule Mabe has also welcomed the appointment of Mboweni as Nene’s replacement, saying he brings vast experience with him.
“The ANC, therefore, warmly congratulates comrade Tito Mboweni on his appointment as the new minister of finance, signalling the return to government of a highly accomplished leader in the executive as well as a renowned stalwart of our liberation movement.”
#NhlanhlaNene President Cyril Ramaphosa says Nene submitted letter of resignation this morning, requesting to be relieved of his duties. LD— EWN Reporter (@ewnreporter) October 9, 2018
The EFF agrees too, saying the President is being inconsistent in not showing them the door.
It says South Africa should have a zero-tolerance approach to unethical conduct.
The red beret's Mbuyiseni Ndlozi said: “We live in a country where there is too much corruption, we must have zero-tolerance on those who are corrupt, who mislead the public and are unethical.”
The EFF wants Mboweni to prioritise the interests of all South Africans, particularly the poor.
WATCH: Nene out, Mboweni in
Cosatu says it’s not surprised by Nene’s resignation.
The federation's Bheki Ntshalintshali said: “I think the markets will be responding positively. And he [Mboweni] seems not to have any baggage we know. We accept him. We hope he will be accountable to the citizens in a very clean and honest way.”
Business Leadership South Africa has also welcomed Mboweni’s appointment. It’s CEO Bonang Mohale is hoping it will have positive effects.
“It’s a good appointment, it’s a trusted hand with a demonstrable track record [and] the rand can only improve.”
Econometrix Economist Azar Jammine agrees.
“I think that people will have as much confidence in Tito Mboweni as Minister of Finance as they had in Nhlanhla Nene. The big concern that there was is one of instability. I don’t believe this will bring about the kind of instability that will see credit ratings agencies downgrading the country.”
Additional reporting by Pelane Phakgadi.
(Edited by Thapelo Lekabe)