South Africa: Finance Minister Quits Over Corruption Scandal

South African Finance Minister, Nhlanhla Nene has resigned on Tuesday following a corruption scandal based on his undisclosed meetings with the corrupt Gupta Family.
The Gupta family have been at the centre of corrupt practices in the country after apartheid and have been close allies with the former Preident, Jacob Zuma.
Zuma’s administration which lasted from 2009 to 2018 had largely crumbled the country’s economy and the Gupta family consisting of three Indian-born brothers had benefitted during his administartion by fraudulently profiting from vast government contracts and energy and transport deals.
Earlier, Nene confessed to holding private meetings with the family when he was deputy finance minister and head of the Treasury. He has since begged for forgivenes over this mistake which he reffered to as ‘lapses’
His public apology letter read, “I was wrong in meeting the Guptas at their residence and not in my office or at least a public place,”
“These visits do cast a shadow on my conduct as a public office bearer. I deeply regret these lapses and beg your forgiveness.”
Subsequent to his confession pressure has been mounted on the present South African President, Cyril Ramaphosa to sack the minister with opposition parties demanding for a quick decision to be taken over the issue.
Nene has also been linked to an improper business deal support given to his son when he was Chairman of South Africa’s Public Investment Corporation which is in charge of pension. He has however denied this allegations and welcomed interrogations.
Following his resignation, Former central bank governor Tito Mboweni has been named as Nene’s successor.



For information on Press Releases, Photos, Promotional Events and Adverts, Please Call or Send a Text to 08092220500, 08098600038 or send an email to:

Related Articles