South Africa Finance Minister Resigns Over Graft Testimony

South Africa Finance Minister Resigns Over Graft Testimony

South Africa Finance Minister Resigns Over Graft Testimony

The decision, made by President Cyril Ramaphosa, comes after Nene chose to resign from the post on Tuesday morning following a public outcry sparked by his public apology last week over his multiple meetings with the Gupta family at their private home.

In the latest flare-up of a widening corruption scandal, South Africa's finance minister has resigned from his cabinet post for failing to disclose his meetings with the controversial Gupta business family.

South African President, Cyril Ramaphosa, has appointed former Central Bank Governor, Tito Mboweni, as his Finance Minister on Tuesday, after he had accepted the resignation of Nhlanhla Nene.

But Nene apologized last week after telling a commission of inquiry about visits that he made years ago to the businesses and home of the Gupta family, who along with Zuma deny any wrongdoing.

It said the issue was likely to be raised at a meeting of the ANC later on Monday.

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Asked repeatedly at a media event in Cape Town whether Nene still enjoyed his confidence and what the future might hold for the finance minister, President Ramaphosa made light of the questions and pretended there was something wrong with his hearing.

He said he was accepting Mr. Nene's resignation "in the interests of good governance". He remained active in politics, and was elected to the ruling African National Congress's decision-making national executive committee at a party congress in December.

Mr. Nene had previously denied any private meetings with the Guptas, but he finally admitted them last week during his testimony to a national inquiry into state corruption.

"Public servants at all spheres and levels of government will have no obligation to responsibly manage state fiscal resources under a compromised minister of finance, " Malema said.

She said there had been ongoing engagements between the two and that Nene had briefed him on the details around his testimony.

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He told the inquiry he was sacked by Zuma in December 2015 for blocking deals that would have benefited the Guptas, particularly a $100 billion nuclear power deal with Russian Federation that could have crippled Africa's most developed economy.

It's understood the minister offered to resign during a phone call to the president.

"This principled steadfastness, and his voluntary appearance at the commission of inquiry into state capture as the first sitting Cabinet minister, deserve recognition", SACP spokesperson Alex Mohubetswane said in a statement.

The main opposition Democratic Alliance party welcomed Mboweni's appointment, saying he was a safe pair of hands.

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