Ramaphosa to announce Finance Minister's departure

South African President Cyril Ramaphosa will announce the departure of Finance Minister Nhlanhla Nene at a news conference at 1430 GMT, a senior source in the ruling African National Congress told Reuters.

"He is gone," the source told Reuters, in response to a question as to whether Ramaphosa had decided to remove Nene. The source would not reveal the name of Nene's replacement.  

(With inputs from agencies.)