President Cyril Ramaphosa has announced that embattled Minister of Finance, Nhlanhla Nene, has resigned from the post. Ramaphosa also stated that former central bank governor, Tito Mboweni, would replace Nene in the role of Minister of Finance.

Nene came under pressure to quit his ministerial post after it was revealed that he had met with members of the controversial and corrupt Gupta family at their home six times. He subsequently requested that Ramaphosa relieve him of his duties.

He also apologised for his conduct in a statement addressed to the South African public, but denies having granted anyone preferential treatment or favours.

Mboweni seems excited and well prepared for his new role, and has highlighted three key areas that need to be revisited. These include establishing a state bank and enforcing that the state owns 40% of the country’s mines.

The Minister of Finance’s name also shot to fame for a reason that has nothing to do with politics – hip-hop superstar, Cassper Nyovest, used Mboweni’s name in a catchy song released last year.

Reactions to Mboweni’s appointment have gone viral, with a quite a few making reference to the Nyovest song. Here they are:

Picture: Twitter

Article written by

Lucinda Dordley

Lucinda is a hard news writer who occasionally dabbles in lifestyle writing, and recent journalism graduate. She enjoys reading the works of Stephen King, and exploring the beauty of Cape Town and its surrounds.