The Durban Chamber of Commerce and Industry has welcomed the appointment of Tito Mboweni as the new Minister of Finance of South Africa. Photo: File

DURBAN – The Durban Chamber of Commerce and Industry has welcomed the appointment of Tito Mboweni as the new Minister of Finance of South Africa  

The Durban Chamber President Musa Makhunga said that Minister Mboweni has a lot of experience and strong credentials in the areas of finance, economic policy and governance. 

According to Makhunga, the business community is looking forward to the strategic direction that Mboweni will take to address the present technical recession as well as what his policy focus areas will be especially as they relate to stimulating economic growth and sustainability.

The Durban Chamber also commended President Cyril Ramaphosa for the manner in which he has handled the appointment of Mboweni.  Makhunga said he trusts that the appointment will bring some sense of certainty, stability and confidence that both business and the markets need. 

Makhunga also touched on how the Durban economy will be impacted by the appointment of the new finance minister. 

He said, "The Durban Chamber awaits Minister Mboweni’s delivery of the Medium Term Budget Policy Statement and we trust that the appointment will be positive for the City".

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