Cyril Ramaphosa to announce Nhlanhla Nene's fate 'shortly'

Nhlanhla Nene.
Nhlanhla Nene.
Image: Thapelo Morebudi

President Cyril Ramaphosa's decision on the future of finance minister Nhlanhla Nene is imminent.

The president's spokesperson Khusela Diko confirmed to SowetanLIVE that Ramaphosa will announce his decision "shortly or in due course". 

This could mean that we may have a new finance minister by later today.

"I can confirm that he has been in engagement with Mr Nene and I can also confirm that there has been correspondence that has been exchanged between them and they have spoken on the phone… so they have had ongoing conversations.

"The president has put it on record that he is concerned about the uncertainty in the markets regarding this matter. He has also said that it is important that he affirms his commitment on the project of economic recovery and stability and because of that he is still to apply his mind with the issues he has discussed with Minister Nene but he will make an announcement on the decision on the way forward shortly or in due course," said Diko.

Sowetan reported on Monday that Nene had asked Ramaphosa to relieve him of his duties as the minister.

This followed Nene’s testimony at the Zondo commission of inquiry into allegations of state capture where he admitted that he met the Gupta brothers eight times at both their home in Saxonwold and their offices in Midrand.

Subsequent to his appearance before the commission, Nene released a statement apologising for the meeting with the controversial family.

"These visits took place during the period from 2010 to 2014‚ when I was deputy minister and finance minister respectively. Part of my duty as a public office bearer is to meet fellow South Africans and other shareholders when they request to do so,” Nene said in a statement on the official Treasury letterhead.

"However‚ I was wrong in meeting the Guptas at their residence and not in my office or at least a public place."

Nene faced calls to step down over various allegations which ranged from him working with the Guptas, to his son Siyabonga financially benefiting from his tenure at the PIC.

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