Cautious welcome for Enoch Godongwana

His appointment is seen by many as apositive move in that he may be better thanMboweni at gaining ANC support for government initiatives

08 August 2021 - 00:10 By HILARY JOFFE

The rand spiked to R14.75/$ for just a brief moment on Thursday evening, after President Cyril Ramaphosa announced that Tito Mboweni had resigned as finance minister - and before he revealed that Enoch Godongwana was his replacement.

Godongwana, who has chaired the ANC's economic transformation committee for a decade and has often met with foreign and local investors, is a known quantity in the market, economists said on Friday as the dust settled on Ramaphosa's much-anticipated reshuffle...

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