New finance minister Mboweni faces same old problems

Daniel Mminele

President Cyril Ramaphosa has announced Tito Mboweni as the new Minister of Finance.

Nhlanhla Nene has been relieved of his duties as South Africa's Finance Minister, due to contradictions and mistruths made during his appearance before the Commission of Inquiry Into State Capture.

"I have made a decision to accept his resignation", Ramaphosa told a televised press briefing in Cape Town.

Here's everything you need to know.

Site of limousine crash long a unsafe spot
The person was not authorized to discuss the preliminary information publicly and spoke Sunday on the condition of anonymity. The group included four sisters, two brothers and several longtime friends who had gathered to celebrate a birthday party.

Nene, who was widely respected by investors, served as finance minister from 2014 to 2015 until he was sacked by Zuma and was re-appointed by Ramaphosa earlier this year.

"Ideologically and in terms of macroeconomic policy thinking, President Ramaphosa may have appointed the finance minister he always desired in his cabinet".

For the EFF, Nene's position as finance minister is no longer tenable and they are determined to win what they are now calling a battle. Ramaphosa promised to curb corruption that has contributed to South Africa's economic problems, though critics question whether he has the will and clout to scrutinize top levels of the ruling African National Congress party ahead of elections next year.

"Government sources said Nene approached Ramaphosa after the highly negative public reaction to his apology to South Africans on Friday for the meetings with the Gupta family when he served under Zuma", the South African newspaper said.

Manchester United ask Zidane to refuse other job offers
Old Trafford was rocking in the second half as United fans stuck with their team and, on the whole, under-fire Mourinho.

"Look, I bumped into them in public gatherings once or twice, but I never had an engagement and I've never been asked by them to do anything for them", Nene said during the interview (at the 7:47 mark in the below video).

The rand fell more than one percent on the report.

Nene, speaking under oath at the hearings, also said that his then deputy Mcebisi Jonas was offered his job after Nene refused to back the nuclear proposals.

Both Zuma and the Guptas - who are at the heart of the inquiry into so-called "state capture" - have denied any wrongdoing. His appointment "will help to ensure stability and consistency in policy direction", especially with the mid-term budget due to be released on October 24, he said.

Interpol chief Meng Hongwei vanishes on trip to China
The paper reported that after landing, Meng was "taken away" for questioning by what it said were "discipline authorities". While Meng is head of the executive committee that oversees Interpol, the agency is run by the secretary general.

"He has indicated that there is risk that the developments around his testimony will detract from the important task of serving the people of SA, particularly as we work to reestablish public trust in government", he said.

Related news:

Hot News

isis-killer-beheading-video-story-top Rick Porcello Fires Back After CC Sabathia Criticizes Umpire Angel Hernandez
Oct 10, 2018 - 12:56
Masahiro Tanaka picked up the win as he allowed one earned run on three hits with four strikeouts and one walk over five innings. Last night, thanks to an all-around disaster, the Yankees were pushed to the brink of elimination by the Red Sox.

isis-killer-beheading-video-story-top United States will always be a friend: Saudi Crown Prince
Oct 10, 2018 - 12:32
He has contributed articles to the Washington Post's opinion section and has been an outspoken critic of the Saudi leadership. Bessma Momani, a professor at Canada's University of Waterloo, agreed that Prince Mohammed's reputation was at stake.

isis-killer-beheading-video-story-top Carolina Panthers beat New York Giants 33-31 in nail-biter
Oct 09, 2018 - 17:11
A few plays later, the Panthers scored a touchdown, bringing their lead to 27-16 with just 11:23 remaining in the fourth quarter. Olsen will give Newton his favorite target after a two-interception performance that kept this one in jeopardy until the end.

isis-killer-beheading-video-story-top George W. Bush’s daughter, Barbara, tied the knot over the weekend
Oct 09, 2018 - 16:53
Bush, 36, and Coyne tied the knot in Kennebunkport, Maine , over the weekend. "It's just been a very sweet romance". In addition to her mother, father and twin sister, Jenna Bush Hager , her grandfather, former President George H.W.

isis-killer-beheading-video-story-top MLB Postseason 2018: Three takeaways from Boston's win
Oct 09, 2018 - 16:42
The Red Sox scored seven runs in all during the inning, building a 10-run lead. "It was a special moment for me", Eovaldi said. But the Red Sox now sit one win from reaching that next round of the playoffs after a stunning display on Monday night.

isis-killer-beheading-video-story-top OnePlus 6T release date confirmed for November 6
Oct 09, 2018 - 15:28
For security purposes, the device comes with a snappy face unlock feature along with a rear-mounted fingerprint sensor. Through this system, the phone's display houses an optical fingerprint module, that uses the screen as a light source.

isis-killer-beheading-video-story-top China tells US to stop criticism, says relations suffering
Oct 08, 2018 - 19:07
The meeting was apparently productive, and they even discussed another summit between Kim and President Trump, Reuters reported . It added that there was an agreement to hold working-level talks to arrange a second summit between Kim and Trump.

Hurricane Michael's path: Track the storm here
Oct 08, 2018 - 18:53
Tropical storm winds extended out 170 miles (275 kilometers), primarily to the northeast and southeast of the storm's center. The track takes the developing storm as a hurricane toward a landfall near the Florida Panhandle Wednesday.

isis-killer-beheading-video-story-top Saudi Arabia's Crown Prince pledges Aramco flotation by early 2021
Oct 08, 2018 - 18:43
Its billionaire backer was detained in the Ritz Carlton roundup overseen by Prince Mohammed in 2017. The Post joined them Friday by directly appealing to the prince, the son of Saudi King Salman.

isis-killer-beheading-video-story-top Vettel blames Verstappen for Suzuka collision
Oct 08, 2018 - 18:26
Vettel came from too far back, and clumsily thudded into the side of Verstappen as sparks flew and the Ferrari auto spun around. Ferrari boss Maurizio Arrivabene said the podium had been within the team's grasp.

isis-killer-beheading-video-story-top Aubameyang makes Premier League history, lauds Arsenal mentality after win
Oct 08, 2018 - 15:19
Alexandre Lacazette will lead the line for Arsenal , with Danny Welbeck and Henrikh Mkhitaryan providing support from out wide. Aubameyang put the seal on Arsenal's stroll in the autumn sunshine in the 79th minute, deftly converting Bellerin's cross.

isis-killer-beheading-video-story-top [Teams] Southampton vs Chelsea: Confirmed Line-Ups From St Mary's
Oct 07, 2018 - 18:29
It's very hard in the Premier League to stop an opposition team from having absolutely no chances in a game. Looking at the Premier League he believes that teammate N'Golo Kane is among the best players.

isis-killer-beheading-video-story-top United States indicts 7 Russian agents in global hacking conspiracy
Oct 07, 2018 - 18:24
They are Aleksei Morenets, 41; Evgenii Serebriakov, 37; Ivan Yermakov, 32; Artem Malyshev, 30; Dmitriy Badin, 27. Officials have previously said other cyber actors include CyberCaliphate, Pawnstorm, Voodoo Bear and Tsar Team.

isis-killer-beheading-video-story-top Martin Keown states his prediction for Liverpool FC v Man City
Oct 07, 2018 - 17:42
Manchester City manager Pep Guardiola says Liverpool forward Mohamed Salah can not yet be compared to his striker Sergio Aguero . Both sides were in action in the Champions League in midweek and will want three points to go into the global break.

isis-killer-beheading-video-story-top Astronomers may have discovered the first moon outside Earth's Solar System
Oct 07, 2018 - 17:40
The planet Endor itself is a gas giant, but the Forest Moon is a habitable world, peopled by small furry sentient creatures. But Dr Kipping said: "Both bodies, however, are considered to be gaseous and therefore unsuitable for life as we know it".