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<p>South African finance minister Nhlanhla Nene outlined government policy plans at the GEPF Thought Leadership Conference.</p>


SA FinMin Nene spells out govt’s policy plans

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<p>The rand has lost 11.9 per cent since the beginning of August as the sell-off in emerging markets continued triggered by the Turkish Lira. And locally there has been investor apprehension to land expropriation without compensation and the Economic Freedom Fighters tabling an amendment bill to nationalise the Reserve Bank. CNBC Africa’s Karabo Letlhatlha caught up with Finance Minister Nhlanhla Nene and his deputy at the financial results of the land bank and started by asking them about investor apprehension in the face of expropriation.</p>


SA FinMin Nene moves to ease investor apprehension over expropriation

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<p>As we build up to the big ten year BRIC summit starting tomorrow in Sandton, the South African Institute of International Affairs held a panel where South African Reserve Bank governor has a scathing response to what he calls the stupidity of protectionism. The South African Minister of Finance, Nhlanhla Nene gave his thoughts on protectionism as a threat to global trade.</p>


SA FinMin Nene denounces protectionism

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<p>The good news is tax to be spent on South African citizens is up, the bad news is, it’s not as much as it should be.</p>


Sars seeks to improve revenue collection, restore credibility

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<p>On Monday evening South Africa’s President Cyril Ramaphosa reshuffled his Cabinet replacing Malusi Gigaba as finance minister with former finance minister Nhlanhla Nene who was ousted by then President Zuma.</p>


Why SA’s former Finance Minister Malusi Gigaba had to go – Economist Payi

<p>South Africa’s President Cyril Ramaphosa reshuffled his cabinet on Monday after coming to power two weeks ago when scandal-plagued Jacob Zuma resigned under pressure from the ruling African National Congress.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-295161 size-full" src="http://cnbc.africa/wp-content/uploads/2017/12/ANC54_NDZ_CR_GettyImages-RZ1.png" alt="" width="850" height="549" /></p>
<p class="">Below are details of some key ministers:</p>
<p class=""><strong>NHLANHLA NENE &#8211; FINANCE MINISTER</strong></p>
<p class="">Nhlanhla Nene served as finance minister from May 2014 until December 2015, when Zuma fired him and replaced him with unknown parliamentary backbencher Des van Rooyen.</p>
<p class="">A collapse in the rand currency forced Zuma to sack van Rooyen and reappoint a previous finance minister, Pravin Gordhan, just four days later.</p>
<p class="">Nene, a veteran civil servant who was keen to rein in government spending, had been reluctant to rubber-stamp an ambitious plan to build a number of nuclear power stations, a project that might cost as much as $100 billion and one which Ramaphosa has frankly said South African cannot afford.</p>
<p class="">Nene has since taken up roles in the private sector including as a board member at fund manager Allan Gray, resident advisor at investment firm Thebe Investment Corporation and as acting head of a business school in Johannesburg.</p>
<p class=""><strong>DAVID MABUZA &#8211; DEPUTY PRESIDENT</strong></p>
<p class="">ANC deputy president David Mabuza is the new Deputy President of South Africa and premier of Mpumalanga province. He has not served as a cabinet minister before.</p>
<p class="">Mabuza was an ally of Zuma and was accused of involvement in corruption in awarding tenders. He has denied any wrongdoing.</p>
<p class="">Mabuza’s influence in Mpumalanga will be significant for Ramaphosa and the ANC in next year’s parliamentary election.</p>
<p class=""><strong>PRAVIN GORDHAN &#8211; PUBLIC ENTERPRISES MINISTER</strong></p>
<p class="">A popular figure with investors, Gordhan served as Minister of Finance from 2009 until 2014 and again from 2015 until 2017.</p>
<p class="">Gordhan has been a critic of the corruption that dogged Zuma’s term and there will be high expectations for him to clean up state-owned firms. His combative style can be divisive.</p>
<p class=""><strong>NKOSAZANA DLAMINI-ZUMA &#8211; MINISTER IN THE PRESIDENCY</strong></p>
<p class="">The former minister and chairwoman of the African Union Commission narrowly lost to Ramaphosa in an ANC leadership election in December and she would have hoped to be naming her own cabinet at this stage.</p>
<p class="">Dlamini-Zuma was married to former president Zuma for over a decade and has four children with him.</p>
<p class=""><strong>LINDIWE SISULU &#8211; FOREIGN AFFAIRS MINISTER</strong></p>
<p class="">Sisulu initially ran against Ramaphosa in the ANC leadership race last year but later withdrew, choosing to pursue the deputy position, which she lost to David Mabuza.</p>
<p class="">Most recently serving as human settlements minister, Sisulu is the daughter of anti-apartheid activist Walter Sisulu, a close friend of Nelson Mandela.</p>
<p class="">While in exile during apartheid, Sisulu joined the military wing of the ANC, working in intelligence.</p>
<p class=""><strong>GWEDE MANTASHE &#8211; MINERALS RESOURCES MINISTER</strong></p>
<p class="">Trade unionist Mantashe, 62, is currently the national chairperson of the ANC and former secretary-general of the party &#8212; a position he held for 10 years.</p>
<p class="">The shrewd party strategist was the first trade unionist appointed to the board of directors of a company listed on Johannesburg’s stock exchange.</p>
<p class=""><strong>JEFF RADEBE &#8211; ENERGY MINISTER</strong></p>
<p class="">Radebe is one of the longest-serving ministers in post-apartheid South Africa, having held several senior cabinet positions in including as minister of public enterprises, justice and transport.</p>
<p class="">He served in underground structures of the ANC during white minority rule and was imprisoned on Robben Island, where the apartheid government kept political prisoners.</p>
<p class=""><strong>MALUSI GIGABA &#8211; HOME AFFAIRS MINISTER</strong></p>
<p class="">Gigaba returns to the home affairs ministry after having served as finance minister since being appointed by Zuma in March. He delivered the budget last week.</p>
<p class="">Gigaba has previously served as Minister of Public Enterprises.</p>
<p class="">A South African court found last year that Gigaba had violated the constitution by lying about a dispute with a company during his time at home affairs. Gigaba has said he will challenge the ruling. [L8N1QB5BV]</p>
<p class=""><strong>ZWELI MKHIZE &#8211; COOPERATIVE GOVERNANCE AND TRADITIONAL AFFAIRS MINISTER</strong></p>
<p class="">The ANC’s former treasurer general was an outsider in the party’s leadership race won by Ramaphosa in December.</p>
<p class="">A medical doctor by training, Mkhize also served as a party boss in the Kwa-Zulu Natal province, from where Zuma and Dlamini-Zuma hail. Ramaphosa will be relying on Mkhize to reconcile opposing factions in the ANC, analysts say.</p>
<p class=""><strong>NALEDI PANDOR &#8211; HIGHER EDUCATION AND TRAINING MINISTER</strong></p>
<p class="">A former teacher and veteran minister, Pandor comes from a long line of political activists in Kwa-Zulu Natal, a key province for the ANC and one where Ramaphosa needs allies.</p>
<p class="">Largely praised for her personal integrity, Pandor has criticised ANC politicians for their lavish lifestyles.</p>
<p class=""><strong>DEREK HANEKOM &#8211; TOURISM MINISTER</strong></p>
<p class="">A white Afrikaner, Hanekom has served as a minister under every president since the end of white-minority rule, including as minister of land under Nelson Mandela.</p>
<p class="">Hanekom was one of the most vocal critics of Zuma and was sacked as tourism minister last year after publicly calling for his removal.</p>
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<p class="Attribution_content_27_rw">Compiled by Tiisetso Motsoeneng and Joe Brock; Editing by James Macharia and Catherine Evans</p>
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Key figures in S.African President Ramaphosa’s first cabinet

<p>Pravin Gordhan tells CNBC Africa that he is still finance minister outside the North Gauteng High Court in South Africa&#8217;s capital, Pretoria.</p>
<blockquote><p>&#8220;I&#8217;m here, I&#8217;m still finance minister,&#8221; said Pravin Gordhan.</p></blockquote>
<p>This comes on the back of reports that the top six of SA&#8217;s ruling African National Congress party had approved the removal of Finance Minister Pravin Gordhan.</p>
<p>ANC Secretary-General Gwede Mantashe, one of the ANC&#8217;s top six, told Reuters he could not comment on the report.</p>
<p>ANN7 reported that Brian Molefe, ex-head of state utility Eskom, and former finance minister Nhlanhla Nene, were not in the running to replace Gordhan.</p>
<p>(Reporting by Tanisha Heiberg; Writing by Joe Brock; Editing by James Macharia)</p>


Nhlanhla Nene

SA FinMin Nene spells out govt’s policy plans

SA FinMin Nene moves to ease investor apprehension over expropriation

SA FinMin Nene denounces protectionism

Sars seeks to improve revenue collection, restore credibility

Why SA’s former Finance Minister Malusi Gigaba had to go – Economist Payi

Key figures in S.African President Ramaphosa’s first cabinet

“I’m here, I’m still finance minister” – SA FinMin Gordhan

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Nhlanhla Nene

SA FinMin Nene spells out govt’s policy plans

SA FinMin Nene moves to ease investor apprehension over expropriation

SA FinMin Nene denounces protectionism

Sars seeks to improve revenue collection, restore credibility

Why SA’s former Finance Minister Malusi Gigaba had to go – Economist Payi

Key figures in S.African President Ramaphosa’s first cabinet

“I’m here, I’m still finance minister” – SA FinMin Gordhan

News Tips

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