South Africa’s finance minister Nhlanhla Nene resigns


In a nationally televised address, Ramaphosa said he accepted Nene’s resignation because of “errors of judgment” as a result of a controversy surrounding Nene’s testimony in an ongoing graft inquiry in South Africa.

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Ramaphosa announced that Tito Mboweni, a former South African Reserve Bank Governor, will replace Nene as finance minister.

Mboweni was sworn-in immediately following the address.

“After due consideration of the circumstances around this matter and in the interest of good governance, I have decided to accept his resignation,” said Ramaphosa.

Nene was sacked by former president Jacob Zuma as finance minister — in testimony to the ongoing ‘state capture inquiry’.

Although, Nene says he was fired because he refused to sign onto what many saw as a questionable nuclear deal with Russia….

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