Ramaphosa appoints new finance minister

Mcebisi Jonas

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

The party, which has been vocal in its demand for Nene's sacking over the past few days, now wants Ramaphosa to fire Minister in the Presidency Bathabile Dlamini and Home Affairs Minister Malusi Gigaba.

It has taken approximately less than seven days for now former finance minister Nhlanhla Nene to move from being one of the most trusted and loved public servants to him now being referred to as compromised, with some questioning his integrity.

South Africa's Finance Minister Nhlanhla Nene looks on ahead of the Judicial Commission of Inquiry probing state capture in Johannesburg, South Africa October 3, 2018.

Both Zuma and the Guptas - who are at the heart of the inquiry into so-called "state capture" - have denied any wrongdoing.

He then added that that Nene can no longer inspire much needed confidence to revive the economy. The announcement led to a strengthening of the South African currency, the rand, which had weakened after earlier reports of Mr. Nene's likely resignation.

Pompeo’s China visit marked by frosty talks and ‘fundamental disagreement’
Trump met with Kim in Singapore in June and - at the time - announced that the two countries are set to " start a new history ". USA officials have thus far said the penalties will remain in place until the North's denuclearization is fully verified.


On the face of it a finance minister talking to top business people may seem normal, but the Guptas have been accused of using meetings, in their residence in a posh suburb of Johannesburg, to influence political decisions.

Ramaphosa stressed that Nene "has not been implicated in any act of wrongdoing himself" and hailed him as a minister who had "defended the cause of proper financial management as well as clean governance".

Nene has become a divisive figure after testimony he gave at an inquiry into allegations of corruption by the Guptas, in which he admitted to the previously undisclosed visits.

The DA's Phumzile Van Damme says firing Nene will set a precedent for other Cabinet members to be sacked too.

The rand trimmed some of its losses to trade 0,58 percent weaker at 14,8800 per dollar at 1557 GMT, having hit a session low of 14,9875 in early trade after the Business Day newspaper citing government sources as saying Nene had asked President Cyril Ramaphosa to be released from his position.

The ANC forced Zuma to quit as president in February, clearing the way for his 65-year-old deputy and party leader Ramaphosa to take over.

Related News:

  • The Dishonesty of Susan Collins

    The Dishonesty of Susan Collins

    Collins' claims to be a moderate but that her speech impressed him with its thoroughness and thoughtfulness. Collins, one of the few pro-choice Republicans in the Senate, has asserted that Kavanaugh considers Roe v.
    Pep Guardiola is the world’s best manager, says Jurgen Klopp

    Pep Guardiola is the world’s best manager, says Jurgen Klopp

    Guardiola admitted after the game that his team were deeper than usual as they controlled Liverpool's rapid forward line expertly. Up and down they ( Liverpool ) are the best team in the world in these transitions, offensive, defensive, it is built for that.
    Liverpool show interest in Arsenal 27-year-old player

    Liverpool show interest in Arsenal 27-year-old player

    With his passion, I spoke with him [and said] the most important thing is - when the team need his help - [he] has to be prepared. Emery called on the pre-season signing from Bayer Leverkusen to seize his chance, saying: "I'm very happy with Leno".
  • Melania Trump's menswear look in Africa inspires some praise - but mostly memes

    Melania Trump's menswear look in Africa inspires some praise - but mostly memes

    In an ideal world, the focus would be on the First Lady's initiatives and what she said and did, rather than what she was wearing. Melania Trump , no stranger to sartorial controversy , is facing criticism for a hat she wore during her solo trip to Africa.
    Microphones picked up comment from Conor McGregor after third round against Khabib

    Microphones picked up comment from Conor McGregor after third round against Khabib

    McGregor didn't appear at the news conference. "He was like, 'We don't like each other, whatever.' He doesn't care about charges". White said three members of Nurmagomedov's team were detained by police, but released after McGregor refused to press charges.
    China Responds to US Provocations in South China Sea

    China Responds to US Provocations in South China Sea

    The confrontation between the two navy vessels took place near disputed territories in the remote Spratly Islands. Beijing claims all of the Spratlys and has built a number of military installations on the islands.
  • Jesus not happy Guardiola picked Mahrez to take crucial penalty

    Jesus not happy Guardiola picked Mahrez to take crucial penalty

    Guardiola defended Mahrez, who missed a great chance to win the game when he blasted an 86th minute penalty over the bar. Nevertheless, the second half started with more objective by both the teams and they got many chances to win the game.
    Judge tells Tesla, SEC to justify lawsuit deal before settling

    Judge tells Tesla, SEC to justify lawsuit deal before settling

    The SEC filed a lawsuit on September 27 charging fraud and seeking to bar Musk from serving as an executive at any public company. The SEC declined to comment about the latest tweet, and a spokesperson for Tesla was not immediately available for comment.
    Melania Trump Meets Paramount Chief of Oguaa

    Melania Trump Meets Paramount Chief of Oguaa

    First Lady Melania Trump (L) and the first lady of Malawi Gertrude Maseko walk at the State House in Lilongwe, on October 4. The school is a beneficiary of United States Agency for International Development (USAID) National Reading Program.
  • Florida, Alabama bracing for 'monstrous' Hurricane Michael

    Florida, Alabama bracing for 'monstrous' Hurricane Michael

    Hurricane-force winds extended outward up to 35 miles from the center and tropical-storm-force winds were outward up to 185 miles. The storm is expected to cause wide-spread power outages, high winds and heavy rain in Alabama.
    Intel reveals '9th gen' Core i5, i7 and i9 performance processors

    Intel reveals '9th gen' Core i5, i7 and i9 performance processors

    Similarly, video editing with Adobe Premiere is up to 34 percent and 97 percent faster respectively, as per Intel's own testing. AnandTech has a rundown of all the new Z390 motherboards if you need help selecting the flawless option for your new build.
    Trump is trusted less than Putin and Xi, global study finds

    Trump is trusted less than Putin and Xi, global study finds

    Meanwhile, in Japan, 30 percent said they trusted Trump, which is 6 percentage points higher than on the previous year's survey. The data, released Monday by the Pew Research Center, shows Trump along with Xi and Putin being viewed mostly with distrust.


Most liked

Morphed clip of Akshay Kumar speaking against Tanushree Dutta gets removed
When Tanushree Dutta levelled serious allegations of sexual misconduct against Nana Patekar , he maintained a stoic silence. Dutta's lawyer Nitin Satpute told ANI that she has been asked to record her statement before the police on 9 October.

What next for Khabib Nurmagomedov & Conor McGregor after UFC 229 turmoil?
This sparked a brawl inside and outside the octagon, which involved members of Nurmagomedov's team. They were released when McGregor confirmed he didn't want to press charges.

FACT CHECK: 'Got Another Friend Request from You' Facebook Warning
Facebook shut down Paper, a stand-alone iOS app that was part News Feed, part newsreader, in 2016, two years after its launch. Ignore the message that is going viral in FB Messenger right now.

What Saints QB Drew Brees Told His Kids After Breaking Record
Manning taped a message to Brees, which was shown in the stadium when he broke the record. Congratulations on such a great career that is still going strong for Drew Brees .

MI man's doorstop rock turns out to be a $100000 meteorite
This January, southern MI experienced a meteor flash that showered fragments of space rock all over Livingston County. He also told the station that he plans to donate 10 percent of the sale price to Central Michigan University.

Panthers QB Cam Newton declares he’s standing by new teammate, Eric Reid
The Saints used a new wrinkle last weekend against the Giants, having backup quarterback Taysom Hill rush four times for 28 yards. Odell Beckham Jr . has yet to score a touchdown and will reach a career-long drought of five games if he doesn't score Sunday.

Pakistan Arrests Nawaz Sharif's Brother for Alleged Graft
The PML-N party lost the election on July 25 to the rival Pakistan Tehreek-e-Insaf led by former cricket hero Imran Khan. However, Islamabad's High Court last month suspended the jail term, and granted bail to the former three-time premier.

Manchester City are scared of Liverpool, and so they should be
We don't know in this moment as well if he can train tomorrow, we have to see. So you can understand why people might think they have City's number.

Central American storm may turn to tropical depression in coming days
Happy Saturday night! While you're enjoying your weekend, things are looking to become busy in the world of weather. The tropical system will approach the Gulf Coast just as the cold front pushes in to approach the Gulf on Tuesday.

After Central Sulawesi Quake, Empowering Coastal Communities Will Save Lives
But the Sulawesi tsunami was "atypical" and could not have been simulated, said Girardet, of the U.N. The work to retrieve bodies has been hampered by lack of heavy equipment to dig them out.

Pompeo to travel to meet Kim Jong Un in Pyongyang next week
The United States argues the sanctions should remain in place until North Korea has fully and verifiably denuclearized. Pompeo would also travel to Japan, South Korea and China on October 6-8 to brief them about his visit, she added.

Retired Justice Stevens: Kavanaugh's Temperament Disqualifies Him
Stevens, who was appointed to the bench by Republican President Gerald Ford in 1975, retired from the Supreme Court in 2010. Supreme Court Justice John Paul Stevens , 98, spoke about the Kavanaugh nomination on Thursday in Florida.

The Big Match Tactical View: Liverpool v Manchester City
When somebody's telling me, "Good luck for Sunday", I think always, "Unfortunately, we need it". Liverpool registered three wins over Man City last season.

McConnell takes key step toward Kavanaugh vote
Two crucial Republican Senators - Jeff Flake and Susan Collins - had indicated they were undecided on which way they would vote. But White House spokesman Raj Shah said: "What critics want is a never-ending fishing expedition into high school drinking".

Teenager Shaw becomes India's youngest debut century-maker
The youngster was aggressive right from the word go and made sure he latched on to the bad deliveries, which often came his way. Kohli, who started on his overnight score of 72, got to his hundred in his 123rd innings with a boundary off Bishoo.