Cape Town - Former SA Reserve Bank governor Tito Mboweni has withdrawn from the ruling party's list for Parliament, making himself unavailable to serve as an MP.

This was announced by ANC secretary general Gwede Mantashe in Cape Town on Tuesday.

Mantashe would not be drawn on the reasons for Mboweni's withdrawal, contained in a letter to the ANC.

“I don't think it would be ethical... to read a letter that Mboweni writes to the ANC... and we don't think that should be done.

“He will be doing something different in the best interests of the country and himself.”

Mboweni's withdrawal followed speculation that he would replace Finance Minister Pravin Gordhan if he were not available for appointment or should he be deployed elsewhere.

Gordhan, who is not at MP, was appointed in 2009.

The law allows the president to appoint to his Cabinet two ministers and two deputy ministers who are not MPs.

Sapa