Despite irking unions for proposing that state-owned electricity producer Eskom shed jobs to stabilise its finances, newly appointed finance minister Tito Mboweni has got the thumbs up from one of the world’s leading economists. Former Goldman Sachs chief economist Jim O’Neill said on Monday that President Cyril Ramaphosa’s decision to appoint Mboweni as finance minister would go a long way to restoring the country’s international credibility, which has been wrecked by 10 years of scandal, uncertainty and allegations of corruption during Jacob Zuma's presidency. “For him to appoint someone like Tito has to be a sign that he is trying to put in place a much-needed improved framework for policy,” said O’Neill, who said he knew Mboweni personally. Mboweni, who will deliver his maiden medium-term budget policy statement on Wednesday, needs to take measures to pull SA out of recession without alienating the ANC’s trade union partners. The National Union of Mineworkers Western Cape branch...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.