John Matisonn: ANC looks to 'President' Nene for salvation; Kganyago, Jonas too

By John Matisonn.Inside Luthuli House, Patrice Motsepe’s star is falling in the presidential stakes, or perhaps it never really rose, but the party’s power-brokers have realised they need an alternative to “establishment” candidates deputy president Paul Mashatile and secretary-general Fikile Mbabula. This is the context in which former Finance Minister Nhlanhla Nene left his current board positions, including as chairperson of the ANC-linked Thebe Investment Corporation for a new, fulltime job in government as chairperson of the Financial and Fiscal Commission.The ANC have turned to a business friendly candidate with stronger ANC credentials than Motsepe, who is respected for opposing Jacob Zuma's nuclear plans, which cost him his job. With his long CV in cabinet and parliamentary finance-related positions, he has been singled out for consideration as potentially the next president of the ANC next year, and then the country in 2029. He is 67, which would make him 69 when the next president takes office in 2029. To continue to rise he will first have his work cut out for him in cleaning up the FFC. Reports say that in 2025, 33 out of 51 positions were vacant, yet last year it overspent its R60m budget by R600,000. There have been allegations of fraud, corruption, sexual harassment, unexplained salary increases and high staff turnover.If Nene shines at the FFC and is elected ANC president, the door would be opened to promote other senior officials with strong financial experience untainted by corruption, including the governor the South African Reserve Bank, Lesetja Kganyago, and former deputy finance minister Mcebisi Jonas. Jonas, who received some unfavourable publicity as chairperson of MTN, which is partnered with the Iran government in its Iran operations, was blocked from performing his role as US envoy when his US visa was not granted. MTN has been unable to find a buyer for its share in the Iranian cell-phone company because of US sanctions, but this month it wrote down the value of its Iran investment. Another pointer to continued resistance to Motsepe came this week when ANC secretary-general Fikile Mbalula publically told Motsepe to sit down at a large ANC event. After telling him to sit down, Mbalula pointedly reminded him that the ANC constitution and branch structures determine how leadership is pursued.Motsepe’s candidacy has grown in popularity. Social Research Foundation opinion surveys found him far more popular than all his competitors among both ANC members and the general public.Social Research Foundation head Dr Frans Cronje has concluded from their research that Motsepe as its presidential candidate could turn the ANC’s fortunes around and even lead it back to victory in 2029.ANC sources say they are acutely aware of the ANC’s decline from both SRF and their own internal polling, and they recognise that corruption, including evidence at the Madlanga Commission, continues to widen the wounds. SRF polling showed ANC secretary-general Fikile Mbalula at 23% of ANC supporters and deputy president Paul Mashatile below 10%. In survey samples of all voters, Motsepe gets 37% to Mbalula’s 17% and Mashatile’s 10%.These figures, coupled with the ANC’s own internal polls, severely undermine both “establishment” candidates for the leadership because they could cost the ANC most of its power at national level as well as the jobs in legislatures and government positions.Cronje has gone so far as to hail him as such a large factor that his election as the presidential candidate would save the ANC by reversing its long-running decline in popular support.Counting against Motsepe among ANC leaders are that he has not come up through the ranks of the ANC like every other leader, and linked to this that he will ignore ideological positions that many still hold dear. He is also opposed by those opposed to extending the power of President Cyril Ramaphosa’s family, since Motsepe is his brother-in-law.In that context the decision to send Nene to the FFC is about much more than just trying to fix one of thousands of ailing government institutions.Luthuli House structures and individuals will play a big part in determining the selection of the next president. Nene ticks many boxes as an active lifelong ANC member, who is therefore deeply aware of ANC policy history even as he moves to reform..Read more:.TCS: What South Africa might look like under a Motsepe-led ANC.Nene earned considerable support when he resisted president Jacob Zuma’s efforts to sign a nuclear energy deal with Russia, leading Zuma to remove him after a year and a half as minister. President Cyril Ramaphosa appointed him in 2018, but he lasted less than a year before acknowledged that he had not been forthcoming about meetings he had had with the Guptas. No improper dealing was alleged.Nene holds a B.Com Hons degree from the University of the Western Cape and diplomas in aspects of economic policy from the University of South Africa,the University of London and Williams College in Massachusetts, USA..Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox every morning on weekdays. Register here.Support South Africa's bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.If you prefer WhatsApp for updates, sign up to the BizNews channel here.

John Matisonn: ANC looks to 'President' Nene for salvation; Kganyago, Jonas too

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