South Africa Finance Minister Resigns Over Graft Testimony

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"The Nene case shows how it is hard for Ramaphosa to change the country", Tresca said.

There has been mixed reaction to Finance Minister, Nhlanhla Nene's confession around private meetings with the Gupta family at the compound in Saxonwold.

Weekend reports indicated that Nene's future as finance minister was on shaky ground following his admission to the meetings, with some claiming Gauteng finance MEC Barbara Creecy could be his replacement.

Nhlanhla Nene resigned over discrepancies in his accounts of meetings with a business family at the heart of a corruption scandal, President Cyril Ramaphosa announced on Tuesday.


Zuma and the Guptas, who face numerous allegations of using their friendship for mutual self-enrichment, have consistently denied any wrongdoing.

"These ministers have demonstrated the same disregard of ethical conduct shown by Nene and like Nene they too have undermined parliament's accountability mechanisms", the EFF said in a statement.

Both Zuma and the Guptas have denied any wrongdoing.

New Finance Minister Tito Mboweni clearly loves Twitter - and he's remarkably good at it for a "pensioner".


The visits occurred when he was deputy finance minister and also finance minister before Zuma fired him from that post in December 2015, Nene testified.

Rumours of his intended resignation on Monday led to a fall in the value of South Africa's currency, the rand, but it has since recovered its value. He served as labour minister in the cabinet of former president Nelson Mandela in the mid-1990s and was widely praised for his work as the governor of the South African Reserve Bank from 1999 to 2009.

"We are concerned that during the years that he was out in the political cold, he often came over on social media, at least, as a little looney posting content that seemed to be at odds with government policy", Maynier said, with an attached picture of Mboweni advocating for 40% ownership of mining companies by the state.

Earlier on Tuesday, presidency spokesperson Khusela Diko said Ramaphosa had been engaging with Nene following his testimony at the state capture inquiry.


By accepting Mr. Nene's resignation, Mr. Ramaphosa is setting a tough new standard for corruption issues.

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