Zuma appoints South Africa's first black finance minister

, May 26: South African President

on Sunday promoted former deputy minister Nhlanhla Nene to be the first black finance minister in his new cabinet.

In Zuma's announcement on Sunday evening, former finance minister Pravin Gordhan has been transferred to cooperative governance, Xinhua reported.

Businessman Cyril Ramaphosa was confirmed to be deputy president. He was welcomed by investors and private economy sectors.

Ngoako Ramatlhodi was appointed as mining minister. His predecessor Susan Shabangu had suffered criticism for her handling with the longest strike in platinum sector in democratic South Africa.

In Zuma's cabinet announcement, new ministries were announced including the ministry of telecommunications and postal services, ministry of water and sanitation and ministry for small business development.

"Our country has a fast growing telecommunications sector which in 2012 was estimated at being worth 180 billion rands (about $17.5 billion). We also see a great developmental value in the post office given its role of delivering financial services to remote areas of our country," Zuma said.

A new communications ministry was established by reconstructing related functions, which will be responsible for overarching communication policy and strategy, information dissemination and publicity as well as the branding of the country abroad.

"Improved communication and marketing will promote an informed citizenry and also assist the country to promote investments, economic growth and job creation," said Zuma.

IANS