South African President Cyril Ramaphosa has sought to identify a backup option in case Finance Minister Tito Mboweni leaves his post, but has abandoned the search because he could not find a suitable solution. alternative, according to four people familiar with the situation.
While some of the country’s most prominent policymakers and business leaders have been unofficially solicited as potential replacements in recent months, the two most favored candidates – Reserve Bank Governor Lesetja Kganyago and the former vice – Minister of Finance Mcebisi Jonas – did not want the post.
People asked not to be identified because the process was private and key members of the ruling party were not informed.
Ramaphosa’s first choice has always been to retain Mboweni, a 61-year-old former central bank governor, the sources say. Yet the CFO has often expressed reluctance to stay in the post for long in both public and private sectors, citing the need for young politicians to take over.
He also expressed his frustration with working on Twitter, raising concerns about his intention to resign.
Although hailed by investors for advocating the privatization or closure of bankrupt state-owned enterprises and austere policies, including a wage freeze for civil servants, he clashed with Ramaphosa’s union allies and d other ministers and senior officials of the ruling party.
His practice of working frequently from his home in Magoebaskloof, 277 kilometers (172 miles) north of…
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