New South African Finance Minister Enoch Godongwana’s heavyweight status within the ruling party could help to build alliances for the fiscal policies championed by the National Treasury, according to Fitch Ratings analyst Jan Friederich. Godongwana, a former labor unionist and close political ally of President Cyril Ramaphosa, was named finance chief in a cabinet shakeup late Thursday after Tito Mboweni resigned. He is the ruling African National Congress’s head of economic policy and a former deputy minister of public enterprises and of economic development.
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