South Africa's currency apparently knew the news that Nhlanhla Nene was to depart, even before it was, officially, news.

The rand weakening - and then firming again - in the hour or so before President Cyril Ramaphosa made the announcement.

(SOUNDBITE) (English) SOUTH AFRICAN PRESIDENT CYRIL RAMAPHOSA, SAYING: "After due consideration of the circumstances surrounding this matter and in the interests of good governance I have decided to accept his resignation." It's in stark contrast to Nene's swearing in in February.

Though in fact, Nene was fired by former President Zuma in 2015.

At the time, he - as Zuma himself - faced claims by opponents of corrupt deals with the Guptas, a powerful family accused of high-level influence-peddling.

This time too - there is linkage .... Nene asked to be relieved of his duties after he admitted visiting the home of the Guptas ... Which itself was the subject of high-profile raids by the elite Hawks police unit in February.

The crisis casts a spotlight back on Ramaphosa's promise to crack down on corruption.

He'll now be doing it with a new finance minister.

(SOUNDBITE) (English) SOUTH AFRICAN PRESIDENT CYRIL RAMAPHOSA, SAYING: "In the wake Mr. Nene's resignation I have decided to appoint Tito Mboweni as Minister of Finance with immediate effect." Tito Mboweni is a former central bank governor.

South Africa's economy entered into recession in the second quarter for the first time since 2009.

Unemployment - currently at 27 percent - is a hot-button issue ahead of national elections in 2019 ... And the rand has been under heavy pressure from the rout that has hit emerging market currencies.

The new minister has a double challenge of rebuilding trust - and an economy too.