South Africa's new president replaces finance minister

South African President Cyril Ramaphosa has announced a Cabinet shuffle that replaces the finance minister and puts a former finance minister in charge of the country's troubled state-owned companies.

Ramaphosa was sworn in this month after President Jacob Zuma resigned in the face of multiple corruption allegations. The new president has vowed to clean up the graft that has weakened one of Africa's top economies.

South Africa briefly slipped into recession last year after Zuma fired respected finance minister Pravin Gordhan in favor of Malusi Gigaba.

Gordhan now will be public enterprises minister, while Gigaba returns to home affairs.

Ramaphosa also says David Mabuza will be deputy president.

Ramaphosa said last week that the Cabinet would shrink and his government would conduct "lifestyle audits" on government officials, starting with his office.