'Nene has set a new benchmark for SA and for that he should be respected'

Treasury will be welcoming the new finance minister following the resignation of Nhlanhla Nene and the appointment of Tito Mboweni.

Deputy Minister of Finance Mondli Gungubele says there's "good acceptance" to the appointment of the new finance minister at Treasury.

He says the team at Treasury is always ready to take orders from legitimate authority.

Read: 'I think it's good to have someone with experience from the Reserve Bank'

To them once a decision was taken, clarity was key. Once there is clarity their way was cleared, generally, there was good acceptance.

Mondli Gungubele, Deputy Minister of Finance

Gungubele says Treasury is very sensitive to an environment of uncertainty but now that the confusion is cleared the staff in on the move and it is business as usual.

The state of Treasury remains crucial and that's why the President had to move fast to clear things out.

Mondli Gungubele, Deputy Minister of Finance

Gungubele says as a colleague and a comrade he will continue to have respect for Nhlanhla Nene.

I have worked with Nene for a short while but he is a man which I continue to respect. Naturally when they are those question marks around him all of us are interested in them being cleared.

Mondli Gungubele, Deputy Minister of Finance

You will never be comfortable when there are unanswered questions around the person whom you have such respect for.

Mondli Gungubele, Deputy Minister of Finance

Head at Wits University' School of Economic and Business Sciences, Jannie Rossouw says cabinet ministers who are implicated in state capture should follow the example of Nhlanhla Nene and tender their resignation.

Mr Nene has set a new benchmark in South Africa for cabinet ministers for accepting personal responsibility and I hope in future we will be able to refer back to this incident as the new Nene rule.

Jannie Rossouw, Head at Wits University' School of Economic and Business Sciences

Mr Nene has really done South Africa a huge favour for which we should respect him.

Jannie Rossouw, Head at Wits University' School of Economic and Business Sciences

Rossouw says that in the same breath, the appointment of Tito Mboweni is a good one as he is a good leader who is well informed about economic developments and understands the political environment in this country.

In his leadership role at the Reserve Bank, there were quite a number of innovations and we might see a number of innovations with him as minister of finance.

Jannie Rossouw, Head at Wits University' School of Economic and Business Sciences

To hear the rest of the conversations, listen below:


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