The ANC on Tuesday welcomed the appointment of new finance minister Tito Mboweni.

Mboweni was appointed by President Cyril Ramaphosa on Tuesday afternoon after he accepted the resignation of Nhlanhla Nene following Nene’s testimony at the state capture inquiry last week.

Nene had come under pressure to resign after he told the commission about his numerous meetings with the Gupta family at their Saxonwold home during his term as deputy and later finance minister under then president Jacob Zuma.

"This decision was bold and timely‚" said ANC spokesperson Pule Mabe.

"[The ANC] warmly congratulates Comrade Tito Mboweni on his appointment as the new minister of finance‚ signalling the return to government of a highly accomplished leader and executive as well as renowned stalwart of our liberation movement‚" he said.

Mabe said the party commended Nene for the commitment he had shown to the wellbeing of the country.

Mabe‚ at a media conference on Tuesday‚ however avoided questions on whether other ministers implicated in state capture should also resign from their jobs.

"Comrade Nene has applied his own mind in arriving at his own decision‚" said Mabe.

He said Ramaphosa had accepted Nene's decision.