South Africa seems to change Finance Ministers like it does shirts, some of them soiled, others clean and in the latter years, a Zuptoid camo-shirt – hard to spot the dirty patches.
Circumstances surrounding Nene’s departure are gut-wrenching. But having Mboweni back as finance minister at such a critical time for SA is very good news.
In the wake of Nhlanhla Nene’s resignation, South African president Cyril Ramaphosa has announced Tito Mboweni as the country’s new Finance Minister.
Cyril Ramaphosa and Nhlanhla Nene have spoken about Nene’s testimony at an anti-graft inquiry and the president will make an announcement about this soon.
The London-headquartered Financial Times reports that President Cyril Ramaphosa is under growing pressure to fire Nhlanhla Nene.
Revelations that South African Finance Minister Nhlanhla Nene lied about his meetings with three businessmen who’ve been implicated in plundering state funds presents President Cyril Ramaphosa with a thorny dilemma.
Nene is under pressure to step down as South Africa’s finance minister after he told a commission probing so-called state capture that he met the Guptas.
South African bond yields climbed to the highest this year and the rand weakened to a one-month low as traders digested news that Finance Minister Nhlanhla Nene has offered to resign.
Steinhoff shareholders seemed to breath a sigh of relief this week when Steinhoff-owned retailer Mattress Firm managed to secure a bank bailout.
In a previous TV interview, Nene said he never had any engagements with the Guptas, but under oath at the Zondo Commission, he said he met them six times.