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WATCH - Nene out, Mboweni in: Here's everything you need to know

09 October, 07:15 PM

President Cyril Ramaphosa announced on Tuesday afternoon that former Reserve Bank governor Tito Mboweni would be the new finance minister.

Ramaphosa made the announcement from Tuynhuys in Parliament. Mboweni is replacing Nhlanhla Nene with immediate effect. 

The president confirmed that Nene had tendered his resignation.

This, on the back of Nene's appearance before the state capture commission of inquiry last week, during which he admitted visiting the Gupta family on numerous occasions between 2009 and 2014.

Here's everything you need to know.

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