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South African Finance Minister Resigns over links with the Guptas

South African Finance Minister Nhlanhla Nene has resigned following new evidence that differs with his testimony to parliament on meetings he had with the Indian-South African business family the Gupta’s.

South African President Cyril Ramaphosa told the press on Tuesday that he has accepted Mr Nene’s resignation, adding that ‘it is a measure of his character and commitment to the country that he has decided to resign despite not being implicated in any wrongdoing’.

Mr Zuma sacked Mr Nene in December 2015 as his finance minister, but he was replaced by the current President Ramaphosa in February. Ramphosa instructed Mr Nene the country’s weakening rand and increase growth.

‘Nene faced calls to resign after he admitted to visiting the Gupta brothers, friends of the former president Jacob Zuma who have been accused of high-level influence-peddling, and failing to disclose the meetings earlier’ News Agency has reported.

Cyril Ramphosa (l) and Tito Mboweni (r)

The Guptas are an Indian-South African business family that have links with former president Jacob Zuma. There are claims that hired and have business relations with Zuma’s son Duduzane Zuma. Opposition in South Africa accused Zuma of giving the Gupta’s a free hand in the management of the country’s economy and even appointment of key ministers while Zuma was president. Zuma and the Gupta’s have denied any wrong doing.

Mr Ramaphosa also said he has replaced Mr Nene as the Finance Minister with former central Bank governor Tito Mboweni. ‘I am confident that Mr Mboweni will bring the leadership that is needed now’.


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