Others however say that the newly formed national planning portfolio has fallen into the right hands.

“We know Manuel is indispensible, we hope that his new post will make our country shine even further,” said a middle aged banker based in Cape Town.

Trevor Manuel, former finance minister credited internationally for increasing economic growth via free-market policies is widely expected to shape up the national plan of the new government.

President Jacob Zuma however said that Manuel’s reshuffle from finance to national planning was not meant to have his power limited. “Comrade Manuel is being given a very powerful structure that is going to work out the national plan of government.

”We believe Comrade Trevor Manuel has experience. His handling of finance has enabled him to understand the government inside out,” said the new President who was inaugurated over the weekend.

He added: “If you want to have a plan you will not go to someone you are not certain of. I think Manuel understands government very well and therefore he has been given that task.”

South Africa’s Stock Exchange market has however not given an official reaction towards Manuel’s cabinet shift but analysts predict that they (markets) are unlikely to show any serious reactions.

"Under this scenario markets are unlikely, in our view, to show much reaction," said ABSA Capital in a note.

As the global economy plunges deeper into a recess, analysts hope that the new finance ministry will stand the test of time and hold the country’s economy firm.

Reactions

AfricaNews reporter sampled different reactions from different people following the new cabinet portfolios:

“Well, we know Manuel is a well respected global figure who has enabled our economy to stand firm and be the largest in the continent. I am afraid this might change,” said Anderson Themba, a University student.

Whatever our personal feelings may be there is no denying that Manuel's position in the cabinet was seen as crucial for foreign investors, said Bon Welsh, a businessman based in Cape Town.

The cabinet itself is a blend of the old and new, although few ministers have retained the portfolios they held before and some familiar figures such as Pallo Jordan, who was responsible for arts and culture, have been dropped.

If some of the appointments were surprising, it was the restructuring of the cabinet that reflects Zuma‘s desire to address two significant areas of weakness – national planning that embraces all three spheres of government and monitoring and evaluation.

“We wanted a structure that would enable us to achieve visible and tangible socio-economic development within the next five years. It should be a structure which would enable us to effectively implement our policies.”

The National Planning Commission (NPC) under Manuel would be “responsible for strategic planning for the country to ensure one national plan to which all spheres of government would adhere. This will enable us to take a more comprehensive view of socio-economic development in the country.”

Analysts say that all eyes are now focused on the new planning department which would be responsible for producing a national plan “that is all encompassing so that the country has a national plan that guides government in whatever sphere.”

President Zuma assured South Africans that the new ministry would ensure that it produces a national policy that would also encompass economic matters.