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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > International > Article Home Business & Finance News U.S. Politics International Technology Entertainment Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters South Africa's Zuma moves Manuel to powerful new role Sun May 10, 2009 10:37am EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By Phumza Macanda PRETORIA (Reuters) - Trevor Manuel was appointed to head a powerful new planning body on Sunday, keeping South Africa's former finance minister at the heart of policy-making. A day after taking office, President Jacob Zuma named tax authority chief Pravin Gordhan to replace Manuel in another sign of continuity as Africa's biggest economy heads toward its first recession in 17 years. "Comrade Trevor Manuel has been given a new structure, a very powerful structure that is going to work out a national plan of government," said Zuma who expects a positive financial market reaction to Gordhan's appointment. Manuel had been in the job for 13 years, making him the world's longest-serving finance minister. Investors approved of the tight monetary and fiscal policies he kept in place. "I think the positions that the financial markets were worried about have been skillfully handled," said independent analyst Nic Borain. As well coping with the fallout from the global financial crisis, Zuma also faces pressure to deliver on 15 years of promises by his ruling African National Congress (ANC) to tackle widespread poverty, crime and AIDS, and create jobs. Zuma named his predecessor, Kgalema Motlanthe, as his deputy. Motlanthe had served in a caretaker role since Zuma's rival, former President Thabo Mbeki, was forced from office last September by the ANC. Zuma's toughest task may be balancing the interests of unions and communists who helped him rise to the top against those of investors who fear he will steer the economy to the left. Zuma named Susan Shabangu as Minister of Mining and Dipuo Peters as Minister of Energy, splitting the existing portfolio. Shabangu has held only deputy ministerial appointments before. South Africa is the world's top source of platinum and its third largest gold producer. The split will try to ensure state-owned utility Eskom, which has been rationing electricity since early last year, does not face a repeat of the near-collapse of the grid that in January last year forced mines to shut for days. (Additional reporting by Gordon Bell; Writing by Michael Georgy; Editing by Matthew Tostevin) © Thomson Reuters 2009 All rights reserved Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: Pope urges Jordan Catholics to keep faith amid strife Green Business Reuters Green Business Reuters introduces a new section dedicated to the emerging green technology sector, featuring five people to watch in the business of green and our global green portfolio. Full Coverage More International News Pakistanis flee offensive, Swat valley curfew eased | Video Sri Lanka, Tamil Tigers trade blame for civilian deaths NATO war games hinder U.S.-Russia ties: Putin Pope urges Jordan Catholics to keep faith amid strife | Video Afghan students protest against civilian casualties More International News... Video Zuma sworn in as SA president Play Video More Video... 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