Business has lauded President Cyril Ramaphosa’s decision to appoint former Reserve Bank governor Tito Mboweni as finance minister. Business Unity SA (Busa) CEO Tanya Cohen said although having a new finance minister is “obviously a setback” and the timing is regrettable, the organisation has confidence in his credibility and experience to take on the role, adding that he has the expertise to provide steady leadership in National Treasury “It is important to emphasise that there can be no dark cloud hanging over the institutional head of National Treasury. Today’s development does not spell the introduction of a new fiscal direction, rather a move to entrench stability and demonstrate how seriously the government is taking state capture,” said Busa president Sipho Pityana. Mboweni, who previously served in the cabinet as labour minister, replaced Nhlanhla Nene who resigned following public pressure over his testimony at the state-capture inquiry, where he admitted to meeting the Gupt...

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