S. Africa gets black finance chief


South African President Jacob Zuma on Sunday tapped former Junior Minister Nhlanhla Nene to become the country’s first black finance minister.

There is a strong desire within South Africa’s ruling ANC to put greater economic power in black hands. In the 20 years since South Africa struggled free from apartheid rule, the economy has remained predominantly in white hands despite a raft of empowerment programs.

Nene earlier served as deputy to internationally respected finance chief Pravin Gordhan, who is of Indian origin.