JOHANNESBURG - The Presidency on Monday evening announced that newly elected head of state, Cyril Ramaphosa will announce his new cabinet at 20:30 on Monday at the Union Buildings.

It has also been reported that Ramaphosa will also announce the country's new deputy president.

Speculation is rife that ministers Naledi Pandor and Lindiwe Sisulu, Speaker Baleka Mbete and David Mabuza, deputy president of the ANC, are in the running as possible candidates.

Also rumoured to be in the running is ANC treasurer general of the Paul Mashatile.

The Mail & Guardian, based on a number of inside sources, previously reported that Ramaphosa may have his new team by March 2 and his cabinet may, in fact, be quite small in comparison to Jacob Zumas' .

One of the most interesting developments is that the public enterprises' department may be shut down.

Ramaphosa may require that state companies report to their specific departments. For example, Eskom will report to the department of energy, Transnet will report to the transport department.

This is a developing story