LIVE: What is Gordhan's plan for SA economy?
Newly re-appointed Minister of Finance, Pravin Gordhan, is expected to address the media following the announcement by President Jacob Zuma late Sunday night that he would be brought back to the Treasury.
Gorhan was Minister of Finance between May 2009 and May 2014, when he was deployed as Minister of Cooperative Governance and Traditional Affairs.
It's the second crucial cabinet reshuffle since Wednesday night, which sent the markets and the Rand to catastrophic low levels leading South Africans to question Zuma's leadership.
On Monday morning the Presidency said in a statement that Gordhan did not have to be sworn in again seeing as he is already a minister.
ANC spokesperson Zizi Kodwa said the reshuffle in Finance showed that the President had the ability to correct himself.
"This decision has been occasioned by public concern stressing the need for experience and market assurance on the person who will champion the finance and fiscal policy of the country. President Zuma's decision to appoint Comrade Gordhan therefore is an explicit demonstration of a responsive and accountable government," he said.
Follow Gordhan's press conference live here:
(File photo: Gallo Images)