Expectations were high that Tito Mboweni’s appointment as finance minister last October would strengthen the National Treasury — an institution that had narrowly avoided state capture. Now there is increasing speculation that he will go after the May 8 elections, creating fresh uncertainty around SA’s most important ministry. Mboweni’s possible departure is not necessarily because he has proved to be high-handed and divisive — and has a Trumpian tweeting habit — but because he doesn’t actually want the job. Apparently, he took up the mantle from Nhlanhla Nene reluctantly after other more obvious candidates (including SA Reserve Bank governor Lesetja Kganyago and former deputy finance minister Mcebisi Jonas) declined the offer.

Listen to further analysis of the budget here:

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now