South African central bank Governor Lesetja Kganyago welcomed the reappointment of Finance Minister Enoch Godongwana in the new coalition cabinet unveiled by the president this week.
The African National Congress, which had governed South Africa for three decades since the end of apartheid in 1994, lost its parliamentary majority for the first time in the May 29 vote. That forced the party to form a coalition government with rivals including the centrist Democratic Alliance and other smaller parties.“The constitution of the Government of National Unity became positive, because there was a concern in the market about what kind of coalition would emerge,” Kganyago said.
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