End of the line for Mboweni

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President Cyril Ramaphosa announced the resignation of the aloof minister Tito Mboweni as he reshuffled his cabinet for the first time in over two years. Photo: GCIS
President Cyril Ramaphosa announced the resignation of the aloof minister Tito Mboweni as he reshuffled his cabinet for the first time in over two years. Photo: GCIS

BUSINESS

Following numerous calls, mainly from the left and from the ANC’s alliance partners, for President Cyril Ramaphosa to replace Tito Mboweni as minister of finance, the president’s announcement of Mboweni’s resignation on Thursday evening did not come as a surprise.

Last week, a day before Mboweni briefed the media on the measures announced by Ramaphosa to support the country’s economic recovery and provide relief to the poor following violent unrest and the ongoing Covid-19 pandemic, the former finance minister said: “Sometimes the ship might be sailing in the wrong direction. Jump before you’re pushed out.”

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