Profile: Who is David van Rooyen?
Newswatch has compiled a profile of David van Rooyen who is the country's latest Finance Minister, succeeding Nhlanhla Nene. See details below.
The new finance head was sworn in at the Union Buildings yesterday.
President Jacob Zuma made a shock announcement late Wednesday evening that Nhlanhla Nene would no longer serve in Cabinet.
Van Rooyen holds a Master's Degree in Finance, majoring in Economic Policy from the University of London and a certificate in investment analysis and portfolio management from Unisa to mention a few.
Van Rooyen's leadership positions include ANCYL regional leader from 1996 to 2003, ANC branch leader from 1994-1997 and ANC provincial leader spanning from 2007 to 2009.
He has been a member of the Standing Committee on Finance since 2011 with little known about any prominent roles within the National Treasury.
Upon his appointment, van Rooyen was serving as Whip of the Standing Committee on Finance and as Whip of the Economic Transformation Cluster.
Meanwhile, the rand plummeted after the Cabinet reshuffle with the rand currently trading at R17.28 to the Euro, R23.86 to the Pound and R15.76 to the US Dollar.
The Treasury has dismissed a fake Twitter account that has surfaced, claiming to be that of the Minister.
(File photo: Gallo Images)