Ricochet News

Former Finance Minister off to the private sector

Former Finance Minister off to the private sector

Former Finance Minister Nhlanhla Nene is reportedly set to take-up a position in the private sector and not the BRICS Banks as previously claimed by President Jacob Zuma.

In an interview with eNCA on Tuesday, Nene, whose shock dismissal in December last year saw the rand plummet to its lowest level ever against US Dollar and caused the economy to shed a reported R500-billion, said he is ready to take up his new role before declining to reveal any details.

“It’s not wise to talk about your future employment before you are employed because you might actually end up not taking that job, some of these things can limit your chances of getting into your new job because you’ve jump the gun and made the announcement,” he told the broadcaster.

“You allow the announcement to be made by your future employer or your future principal, because I’m not too sure whether this is employment, call it employment but my gardening leave is going to end shortly”.

Shortly after replacing Nene with little-own African National Congress (ANC) MP David van Rooyen, who was recalled four days later and swapped with Pravin Gordhan, Zuma announced he would be taking up a position in the BRICS Banks with the main focus being on the funding of infrastructure in developing countries. Two months later, Parliament confirmed that Nene had resigned as an MP not long after being fired.

The Economic Freedom Fighters (EFF) have meanwhile reacted by accused Zuma of misleading the country for failing to reveal the real reasons why he opted to replace Nene with van Rooyen.

“This [announcement] demonstrates once more that Zuma does not take his oath of office seriously and disregards the intelligence of the people of South Africa,” EFF spokesperson Mbuyiseni Ndlozi said in a statement.

“[The EFF] have always maintained that it is not possible to just suddenly remove a Finance Minister to offer him a job that has not materialised yet, let alone without preparing the consciousness of the country and the world that such a crucial move is coming”.

Ndlozi stated that the party reaffirms its previous comments that Nene’s failure to approve the controversial South African Airways lease agreement with Airbus played a significant part in his ousting, and that Zuma’s only response to the decision “was to force a Gupta stooge of a political sophomore in the form of David van Rooyen down the throats of the people”.

“The country must not be subjected to a political Pinocchio occupying the Office of the President. There is no truth that Zuma will ever speak because corruption can only be explained by covering it up with deception and lies. The only way to save him is that he must step down as President of the Republic,” Ndlozi said.


IMAGEsourced from bloomberg.com