BASA’s Cas Coovadia gives a thumbs up to Ramaphosa’s cabinet announcement

In a recent interview with CNBC Africa, Managing Director for the Banking Association of South Africa (BASA) Cas Coovadia shared his views on the newly announced cabinet by President Ramaphosa. Coovadia expressed relief and approval for the appointment of Tito Boenny as the Minister of Finance, highlighting the importance of continuity and Boenny's credibility in the global market. Coovadia also praised the inclusion of members from different political parties in the cabinet, emphasizing a message of collaboration in the national interest. He commended the gender balance and the appointment of David Masondo as the deputy minister of finance, noting his commitment and potential for growth in the role. Coovadia acknowledged the return of Ibrayam Patel to the trade and industry portfolio, emphasizing the need for responsiveness to global market demands for investment and economic growth. The appointment of Pravin Gordhan was also lauded for ensuring continuity in public enterprises and tough decision-making regarding state-owned enterprises. Coovadia highlighted the importance of partnerships in human settlements, particularly with the financial sector, to address the housing shortage in the country. Overall, Coovadia expressed optimism for the newly appointed cabinet, urging for accountability, good governance, and collective effort in moving the country forward.