President Jacob Zuma on Wednesday announced the removal of Finance Minister Nhlanhla Nene from the Finance portfolio in Cabinet.
“I have decided to remove Mr Nhlanhla Nene as Minister of Finance, ahead of his deployment to another strategic position,” Zuma said in a statement.
Zuma said that Nene had done well since his appointment as Minister of Finance during a difficult economic climate.
Zuma has appointed ANC member of parliament, David Van Rooyen, as the new Minister of Finance.
Van Rooyen is the whip of the standing committee on finance and whip of the economic transformation cluster.
He was a former Umkhonto we Sizwe operative in the 1980s and has held a number of leadership positions in the ANC from 1994 to 2007.
Van Rooyen is a former executive mayor of Merafong Municipality and a former North West provincial chairperson of the South African Local Government Association.
He has an advance Business Management Diploma, a Diploma in Municipal Governance, a certificate in Municipal Governance, a certificate in Councillor Development, a certificate in Municipal Finance, a certificate in Economic and Public Finance and a Masters Degree in Public Development and Management.
In July 2014, the University of London conferred a MSc Finance to Van Rooyen.
“The new deployment of Mr Nene will be announced in due course,” Zuma said.