South African President Cyril Ramaphosa returned Nhlanhla Nene to the finance ministry in a cabinet reshuffle on Monday. Ramaphosa added new faces and removed some ministers allied to his predecessor Jacob Zuma. Zuma fired Nene as finance minister in December 2015, replacing him with unknown parliamentary backbencher Des van Rooyen. He was then forced to sack van Rooyen and reappoint a previous finance minister, Pravin Gordhan, four days later after the rand collapsed. The rand firmed against the dollar in volatile trade, ahead of the announcement, and was steady after Ramaphosa spelt out the changes.

Source: The Star February 26, 2018 20:50 UTC