South African President Jacob Zuma has appointed Malusi Gigaba as the country's new finance minister, replacing Pravin Gordhan who was sacked in a cabinet reshuffle, a statement from the president's office just after midnight on Thursday said.

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Zuma also said that Sfiso Buthelezi was appointed Deputy Finance Minister replacing Mcebisi Jonas.

"I have directed the new ministers and deputy ministers to work tirelessly with their colleagues to bring about radical socioeconomic transformation and to ensure that the promise of a better life for the poor and the working class becomes a reality," Zuma said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)