South African Cabinet reshuffle deploys new Finance Minister


resident Cyril Ramaphosa has announced a Cabinet reshuffle that will see a change in the economic portfolio.

In his new Cabinet announced on Monday night, President Ramaphosa announced Nhlanhla Nene as the new Finance Minister. The President said Nene would assume the post after being sworn-in in Parliament.

However, Nene is no stranger to the Finance Portfolio, having served as Minister in former President Jacob Zuma’s Cabinet from 26 May 2014 until 9 December 2015.

Minister Nene takes over the reins of the finance portfolio shortly after last Wednesday’s tabling of the 2018 Budget Speech, which saw the raising of Value Added Tax (VAT) by a percentage point to 15%.

He had also previously served as Deputy Minister from 5 November 2008 and was reappointed to the position from 11 May 2009 to 25 May 2014.

The Minister has also been the co-chairperson of the Joint Budget Committee from October 2002 to August 2005, and chairperson of the Portfolio Committee on Finance from August 2002 to 4 November 2008. He was a member of the local organising for the FIFA 2010 World Cup.

Minister Nene will take over from Minister Malusi Gigaba, who has been moved to Home Affairs.

Meanwhile, the Minister will be assisted by incoming Deputy Minister Mondli Gungubele.

Deputy Minister Gungubele is a former Mayor of Ekurhuleni Municipality. He has also headed the Economic Affairs Portfolio Committee in the Gauteng provincial legislature (2004 – 2007). He also previously served as MEC for Sport, Recreation, Arts & Culture (1999-2004), MEC for Health (1997-1999) and MEC for Social Development and Community Services (1994 – 1997) in Gauteng province.


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Thabo Mphahlele is the BizNis Africa Head of Sales and Marketing. Mphahlele was previously MultiChoice Production Support Analyst responsible for developing and monitoring applications. In addition, Mphahlele develops and automates batch scripts and is responsible for the daily infrastructure maintenance at MultiChoice. As a Production Support Analyst, he is responsible for incident analysis solving , developing and constructing business reports for SQL and Oracle and implement change controls for the business. Additional responsibility includes monitoring system performance via SOA, Kibaba (Elasticsearch), H.P BSM, HP Sitescope. Mphahlele is responsible for creating infrastructure performance reports through HP Ops Analytics, monitoring payments via Splunk and in-house built-in tool and disaster recovery simulation and testing. At Nashua Mobile, he was responsible for application development and enhancing the web sites At South West Gauteng College, he was the IT Technician and Network Administrator. During his tenure at Double Digit Media, he was he focused on application and web site development for new and existing clients Mphahlele contributes as a Content Manager for BizNis Africa.

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