South Africa's new finance minister, Tito Mboweni

South African President Cyril Ramaphosa has appointed former Central Bank Governor Tito Mboweni as Finance Minister.

He is replacing Nhlanhla Nene who admitted to having meetings with the business family at the centre of corruption allegations.

Mr. Nene succumbed to pressure to resign after he admitted visiting the Gupta brothers, friends of scandal-plagued former President Jacob Zuma who have been accused of high-level influence-peddling, and failing to disclose the meetings earlier.

Initially he had asked President Ramaphosa to fire him, which the presidency ignored.

The crisis over the Finance Minister had thrown a spotlight on President Ramaphosa’s promise to crack down on corruption and boost economic growth.

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