BRIAN MOLEFE TO REPLACE PRAVIN GORDHAM AMID WEAKENING RAND

Former Eskom boss and now ANC MP, Brian Molefe, was at the North West's State of the Province Address in Taung on Friday. Molefe was sworn in as an MP on Thursday, despite the controversy over his party membership in Hartbeespoort Dam in the Madibeng local municipality. PHOTO: ANA

African National Congress (ANC) MP Brian Molefe will reportedly be appointed South Africa’s next finance minister, according to Business Report.

The financial daily reported on Monday that highly placed sources close to the matter said President Jacob Zuma would replace as many as nine ministers from his Cabinet.

This follows Zuma decision earlier on Monday morning to order Finance Minister Pravin Gordhan and his deputy, Mcebisi Jonas, to cancel their international investment roadshow to the UK and US immediately.

The former Eskom CEO has been widely expected to replace Gordhan or Jonas after he was sworn in as a member of the National Assembly last month.

Molefe was nominated by the North West ANC amid contradictions from two branches of the ruling party in Gauteng, which claimed he belonged to their local structures.

Meanwhile reports reaching expressCapetown has it that the rand has weakened following the decision by President Zuma to recall the finance minister and his deputy from International Investment Roadshow being hosted in the UK and US respectively.

 

PHOTO: Former Eskom boss and now ANC MP, Brian Molefe, was at the North West’s State of the Province Address in Taung on Friday. Molefe was sworn in as an MP on Thursday, despite the controversy over his party membership in Hartbeespoort Dam in the Madibeng local municipality. PHOTO: ANA

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