South Africa's finance minister Nhlanhla Nene resigns

South Africa's finance minister Nhlanhla Nene resigns

The decision, made by President Cyril Ramaphosa, comes after Nene chose to resign from the post on Tuesday morning following a public outcry sparked by his public apology last week over his multiple meetings with the Gupta family at their private home.

The crisis over the finance minister had thrown a spotlight on Ramaphosa's promise to crack down on corruption and boost economic growth.

President Cyril Ramaphosa has been engaging with finance minister Nhlanhla Nene following his testimony at the state capture inquiry and is expected to make an announcement on the matter shortly‚ his spokesperson‚ Khusela Diko‚ said on Tuesday.

We look back at the rise and fall of the former finance minister.

"Government sources said Nene approached Ramaphosa after the highly negative public reaction to his apology to South Africans on Friday for the meetings with the Gupta family when he served under Zuma", the South African newspaper said.

He said he was accepting Mr. Nene's resignation "in the interests of good governance".

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

But Nene apologized last week after telling a commission of inquiry about visits that he made years ago to the businesses and home of the Gupta family, who along with Zuma deny any wrongdoing.

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Zuma has also denied any wrongdoing.

The biggest opposition party, the Democratic Alliance, issued a similar call, saying Nene is likely to be the subject of lengthy investigations and that he risks "compromising public confidence" in the National Treasury. It is a measure of his character that he had taken this decision.

"Public servants at all spheres and levels of government will have no obligation to responsibly manage state fiscal resources under a compromised minister of finance, " Malema said.

He revealed, during proceedings, that then President Jacob Zuma fired him in 2015 because he refused to sign the nuclear deal and for "toeing the Gupta line".

He previously served as minister of finance from May 25, 2014, until his controversial removal by former President Jacob Zuma on December 9, 2015.

This revelation at the state capture inquiry raised serious questions about Nene's credibility, particularly whether the Guptas had any role in his previous Cabinet deployments and whether he at any stage had acted under their instruction. Jonas, Mboweni and Kganyago didn't answer calls to their mobile phones.

The IFP said it was concerned that Ramaphosa did not use the opportunity to also get rid of controversial ministers Bathabile Dlamini and Malusi Gigaba, but welcomed Mboweni's appointment.

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