South African Finance Minister Nene Resigns Amid Political Pressure

On October 9, President Cyril Ramaphosa accepted the resignation of Nhlanhla Nene as finance minister. Critics are accusing Nene of lying about the frequency of his contacts with the notorious Gupta family, which is now being investigated for “state capture.” He is also accused of somehow facilitating a deal involving his son, a Mozambican refinery, and a state financing agency. For his part, Nene has apologized for understating the number and location of his meetings with the Guptas, but has denied any involvement in his son’s businesses. He has been not been charged with any wrongdoing so far. 

While finance minister under former President Jacob Zuma, Nene countered successfully the erstwhile president’s efforts with the Guptas to fund a poorly conceived nuclear power…

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