President Cyril Ramaphosa sought to identify a backup option in case Finance Minister Tito Mboweni left his post, but abandoned the search because he couldn’t find a suitable alternative, according to four people familiar with the situation. While some of the nation’s most prominent policymakers and business executives were informally canvassed as potential replacements over the past few months, the two most favored candidates -- Reserve Bank Governor Lesetja Kganyago and former Deputy Finance Minister Mcebisi Jonas -- didn’t want the job. The people asked not to be identified because the process was private and senior ruling party members weren’t informed.
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