Nene replaces Jabu Moleketi, who resigned after a number of Cabinet Ministers and deputy Ministers stepped down in solidarity with former President Thabo Mbeki, when he was recalled in September.
South African President Kgalema Motlanthe on Wednesday witnessed the swearing-in of Nene, and two other deputies.
Hurtley André Gaum was appointed deputy Minister of Education, and Fatima Hajaig would take up the position of deputy Minister for Foreign Affairs.
One of the responsibilities of the deputy Finance Minister was to represent the country at the Commonwealth.
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