Will Tito Mboweni keep his job as South Africa's finance minister?

Will Tito Mboweni keep his job as South Africa's finance minister?

- Ramaphosa's pick for finance minister will be crucial to his agenda

- While Tito Mboweni may remain in the position, other names have also been put forward

- Whoever the president chooses will face the difficult task of reviving a stagnant economy

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With the announcement of Cyril Ramaphosa's new cabinet slated for 26 or 27 May, one question many want to know is whether Tito Mboweni will continue as finance minister.

Investors and markets are sure to be waiting with baited breath for the announcement.

While Ramaphosa may keep Mboweni on, some experts have put forward other names that they believe could be good picks.

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Ramaphosa has spoken extensively about trying to bring more foreign investment into South Africa in order to create jobs. Consequently, any finance minister he selects would almost certainly be one who advocates market friendly policies and who would be viewed favourably by investors.

Several names have already been suggested. One of these is Lesetja Kganyago, the Reserve Bank governor, as well as Barbara Creecy, the Gauteng Finance MEC, according to eNCA.

Similarly, former deputy-finance minister Mcebisisi Jonas, has been floated as a potential pick, Briefly.co.za has gathered. 

What is certain, however, is that whoever takes up the position will face the tough task of calming spooked investors while at the same time addressing the concerns of the electorate hungry for radical economic transformation. All this will have to be done while at the same balancing the ANC's commitment to land reform.

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While this will be no easy feat, several economists say that it must be pulled off successfully if South Africa's economy is to be turned around - and the window of opportunity for doing so is rapidly closing.

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Source: Briefly.co.za

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