The removal of finance minister Nhlanhla Nene and the appointment of ANC Member of Parliament, David van Rooyen, to the portfolio has sent shock waves through the business community and seen the rand plunging to new lows.
According to daily online publication, Fin24, Nene is the shortest sitting finance minister in the history of the country.
Van Rooyen has served as the Whip of the Standing Committee on Finance and as Whip of the Economic Transformation Cluster.
He was also a former executive mayor of Merafong Municipality and a former North West provincial chairperson of the South African Local Government Association.
Van Rooyen has been described by economists as largely unknown, with little policy experience.
But according to the ANC, van Rooyen holds a string of qualifications and held a number of leadership positions in the ANC from 1994 to 2007.
Prior to this he was an MK operative and soldier and held various leadership positions in Cosas and Khutsong Student Congress. He was also a UDF representative and NUM member.
His list of qualifications include:
• Advance Business Management Diploma
• Diploma in Municipal Governance
• Certificate in Municipal Governance
• Certificate in Councillor Development
• Certificate in Municipal Finance
• Certificate in Economic & Public Finance
• Masters Degree in Public Development and Management
