Former Finance Minister Nhlanhla Nene will be joining the Allan Gray group as a non-executive director‚ it was announced on Monday.

“We are very happy to have someone of Mr Nene’s experience on our board‚ and we are grateful that he chose to accept the appointment‚” said board chair Ian Liddle.

“We are looking forward to his strategic and leadership contribution to the board.”

The company statement said “Nene has extensive experience in the financial services and public sector”‚ and listed his progress from serving “in local government from 1996” to his holding the position of “minister of finance from May 2014 until December 2015”.

Nene was fired by President Jacob Zuma four months ago citing a possible job at the African Regional Centre of the New Development Bank/Brics Bank, a move which caused turmoil in the markets and a far-reaching political crisis for the African National Congress and cost the country's economy at least R500 billion.

In an exclusive interview with eNCA last week, Nene, who did not want to reveal details of his forthcoming job except for confirming that it will be in the private sector, said that he has not heard anything from the New Development Bank.

Nene told the broadcaster that it was not “wise” to talk about future employment before actually being employed as that would “jump the gun”‚ but did quip that his “gardening leave” is coming to an end soon.

Nene also expressed shock at the fact that his axing‚ and replacement by an unknown‚ Des van Rooyen‚ had such an extensive impact on the economy. Van Rooyen was replaced by Pravin Gordhan after only four days in office.

“We are in a global economic village and whatever happens in our country will have an impact in the markets‚ and of course I was surprised by the magnitude because I would have thought that‚ as a mere mortal‚ it would‚ even if there was a movement in the markets‚ it would be something that would be short-lived‚ but indeed I was a bit taken aback”‚ he told eNCA.