South Africa's Zuma replaces Gordhan as Finance Minister

JOHANNESBURG Sun May 25, 2014 1:06pm EDT

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JOHANNESBURG May 25 (Reuters) - South African President Jacob Zuma promoted deputy finance minister Nhlanhla Nene to finance minister on Sunday, replacing the widely respected Pravin Gordhan in a new cabinet line-up at the start of a second five-year term in office.

The day after a glitzy inauguration in Pretoria, the 72-year-old Zuma also confirmed millionaire businessman Cyril Ramaphosa as his deputy president, a decision likely to go down well with investors and the private sector.

Mining minister Susan Shabangu, who has been criticised for her handling of a strike in the platinum mines now in its fifth month, was replaced by Ngoako Ramatlhodi, a former deputy minister in the prison service. (Reporting by Ed Cropley and Zandi Shabalala; Editing by Alison Williams)

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