Former finance minister Nhlanhla Nene resigned to avoid exerting aggravated pressure on already stressed business and sagging public confidence. However, there’s an optical illusion parroted by some that former Reserve Bank governor Tito Mboweni exemplifies the so-called recycled old guard in the governing party. This is not true: Mboweni answered the call to salvage a precarious situation. President Cyril Ramaphosa handed him the job to resuscitate the economy that is recovering from an investment drought and technical recession. It’s a daunting task for a newcomer to tackle the national challenges and restore the political environment within eight months. Mboweni is equal to the task, and he has an opportunity to incubate his successor. The greatest challenges for him is dealing with the threat of a further downgrade of the country’s credit standing and dealing with maladministration and corruption. Trade and Industry Minister Rob Davies correctly points out that corruption hinder...
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