Nhlanhla Nene, who was sacked by Jacob Zuma as South Africa's finance minister in 2015, is favored by President Cyril Ramaphosa to be reappointed to the post, while David Mabuza will probably be named deputy president, two people familiar with the matter said.
His deputy in the ANC David Mabuza is on the list of people to be sworn in on Tuesday.
"That may very well be true but this ignores the fact that President Ramaphosa still needs to win a general election next year, and to the extent that some of these ministers can help deliver an election".
President Ramaphosa, who vowed a "new dawn" and promised for crackdown on corruption, has made the appointment declarations late Monday in Pretoria.
In what has been described by some as a balancing act, Ramaphosa also reappointed previously fired Ministers, including Nhlanhla Nene, Pravin Gordhan, Derek Hanekom and Blade Nzimande. Susan Shabangu swaps portfolios with ANC women's league president and outgoing social development minister Bathabile Dlamini, who becomes the new minister in the presidency responsible for women. This happens at a time as Cyril Ramaphosa, the new South African President, tries to kickstart the country's economy.
This after Ramaphosa, during his State of the Nation Address, said the ANC is in the process of renewal and plans to deal with corruption. He takes over his current post from Lynne Brown, who was dropped from the cabinet.
Ramaphosa took over the presidency from Jacob Zuma on February 15‚ and he was expected to replace members of Zuma's executive with his own.
Popular with investors, Gordhan was brought back to cabinet in the public enterprises department, which oversees around 300 state-owned firms, including loss-making South African Airways and cash-strapped power utility Eskom. That meant he was owed a political favour, and so he now moves into a key position where he could eventually succeed Mr. Ramaphosa as president.
Several regions in the province said they would give former President Zuma, who was recalled last week, a hero's welcome home party.
The shoddy state of the government finances forced the Treasury last week to take the politically risky step of raising value-added tax.