Goldman Sees South Africa’s ‘Fragile’ Coalition Spurring Growth
- Ramaphosa retains Godongwana as nation’s finance minister
- Opposition leader Steenhuisen becomes agriculture minister
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South African President Cyril Ramaphosa announced his new cabinet, allocating ministerial posts to business-friendly opposition politicians while retaining close ally Enoch Godongwana as finance minister and signaling his intent to revive anemic economic growth.
The announcement of the new executive came a month after the African National Congress lost its parliamentary majority in May 29 elections and was forced to invite its rivals to join a broad coalition government. Almost a dozen parties accepted the offer and agreed to back Ramaphosa’s reappointment as president in exchange for being allocated other posts.