David van Rooyen has been sworn in as Minister of Finance after the surprise axing of Nhlanhla Nene.
|||Pretoria - David Douglas van Rooyen was officially sworn in as Minister of Finance at the Union Buildings on Thursday.
In a surprise move on Wednesday night, President Jacob Zuma removed Nhlanhla Nene from the post without giving any reason, and replaced him with Van Rooyen, a little-known lawmaker.
The move triggered widespread fears about the country's economic outlook as the rand dropped to historic lows.
On Thursday Van Rooyen was sworn in by constitutional court judge Sisi Khampepe in a short ceremony attended by Zuma and Van Rooyen's family.
Zuma offered no explanation for the unexpected cabinet change and did not take any questions.
Van Rooyen, however, briefly spoke to the media thanking his predecessors particularly Nene for the stellar job they had done.
"It is with great honour that I approach this important task that has been bestowed upon me by the honorable President Jacob Zuma," he said.
He added that he is faced with a colossal task at a time when the global economic outlook is not favourable, especially for emerging markets.
He said he would be meeting with the Treasury soon and once meetings were done, he would engage in-depth with the media on his financial agenda for the country.
“Our duty is to simplify issues of public finance,” he said.
IOL and Pretoria News
