Nene credibility called into question over son's PIC involvement

Sabelo Skiti says Nhlanhla Nene's son asked the PIC to fund a major investment, S&S Refineries.

The Mail&Guardian and amaBhungane reported in 2014 that, Siyabonga Nene, the son of Nhlanhla Nene, asked the Public Investment Corporation (PIC) to fund a major investment S&S Refineries, a Mozambique-based oil company.

It reports Nene and businessman Amir Mirza were directors of Indiafrec Trade and Investment.

READ: 'Were the ANC top-6 part of the decision to fire Nhlanhla Nene?'

At the time of this occurrence, Nhlanhla Nene was Deputy Finance Minister and Chairperson of the PIC.

How does this fit into the puzzle of corruption allegations against Minister Nhlanhla Nene?

Investigative Journalist at the Mail & Guardian, Sabelo Skiti, says we all heard the Finance Minister and he was speaking to the rumours doing the rounds on social media.

He has got his theories about the origins and what they wanted to achieve those who circulated these WhatsApp messages.

Sabelo Skiti, Investigative Journalist at the Mail & Guardian

The story itself then explains probably why you would have heard these rumours in the first place. It looks at a transaction that was proposed by a company in which minister Nene's son Siyabonga is a partner and director with the PIC at the time where Nene was deputy finance minister and chairman of the PIC as well as the time he then becomes finance minister.

Sabelo Skiti, Investigative Journalist at the Mail & Guardian

He adds that if you look at these salient facts, there was very little transparency in as far as any declarations of relationships within the PIC.

Listen here to the full interview:

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