President Cyril Ramaphosa on Thursday appointed the chair of Development Bank of South Africa Enoch Godongwana as finance minister, replacing Tito Mboweni who has asked to be excused from his position.
The request from Mboweni, who took up the position following the sudden departure of former finance minister Nhlanhla Nene in October 2018, had been a long-standing one, Ramaphosa said.
“I have accepted a long-standing request by Minister Mboweni to be excused from his position as Minister of Finance. [He] took up this position following the sudden departure of former Minister Nhlanhla Nene in October 2018,” said Ramaphosa.
“Since then, he has effectively and ably steered the National Treasury through extremely difficult economic times, providing stability and instilling confidence. I am grateful to Minister Mboweni for responding to the call to serve our nation at its time of need.”
Godongwana is the ANC’s head of economic transformation and Chairperson of the board of the Development Bank of Southern Africa (DBSA).
Godongwana obtained Msc degree in Financial Economic from University of London in 1998. He matriculated at St. John’s College in Umtata, Eastern Cape.
- Inside Politics
