Markets reaction to Mboweni’s appointment: Maudi Lentsoane, Dennis George

The South African Federation of Trade Unions has welcomed the resignation of Nhlanhla Nene as Finance Minister.
The ANC alliance partner Cosatu and the SACP have on the other hand welcomed the appointment of former Governor of the Reserve Bank Tito Mboweni as the new Minister of Finance.
Nene had testified at the Zondo Commission of Inquiry of State Capture in Johannesburg that he had several meetings with the Gupta family in private. On Friday he publicly apologised that he lied about the meetings.

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