'Release of info no accident. EFF appears to back the Jacob Zuma faction'

The former Minister of Finance, Nhlanhla Nene. Picture: Sethembiso Zulu/EWN

On the one hand, Nhlanhla Nene is a hero… the things he has admitted doing… are fairly innocent… what’s catastrophic is he lied about it…

Nic Borain

I don’t think it’s a train smash if we lose Nhlanhla Nene…

Daniel Silke

Should President Cyril Ramaphosa remove Finance Minister Nhlanhla Nene with the mid-term budget a mere two weeks away?

Nene reportedly over the weekend asked Ramaphosa to sack him, and apologised, saying he should have held meetings with the Guptas at a public place or in his office instead of at their premises.

Nene’s sacking as finance minister in 2015 sent the rand into a tailspin and concerns have been raised about what the consequences would be if he’s fired now or if he resigns.

It’s obviously not good news, but I don’t think it will be nearly as bad as the previous finance ministers being sacked, in that the market has faith in the new state president that he will appoint someone of stature and credibility.

Wayne McCurrie, market commentator

We would appreciate that somebody whose trusted by the markets presents the medium-term budget, but unfortunately, there’s a cloud hanging over Nene.

Isaac Matshego, Nedbank

The Money Show’s Bruce Whitfield asked Daniel Silke (Political Economy Analyst at Political Futures Consultancy) and independent political analysts Nic Borain what they think the future holds for the Finance Minister.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

Do we have enough untainted to people this Government?

Nic Borain

None of them has anything like the record of Nhlanhla Nene… He’s a really valuable asset…

Nic Borain

This is not a rerun of Des van Rooyen in 2015… There are people who can do it, but there isn’t endless talent…

Nic Borain

I don’t know if you can keep a Finance Minister who has lied…

Nic Borain

I don’t think the release of this information is an accident… the EFF is, bizarrely, appearing to back the Zuma faction…

Nic Borain

These are not catastrophic transgressions…

Nic Borain

The PR section of the ANC is underperforming, yet again…

Daniel Silke

There’s a linkage between the factions in the ANC and the EFF…

Daniel Silke

The EFF, in a statement released on Monday, has called on President Cyril Ramaphosa to "release Nene from his duties with immediate effect."

It says its leader, Julius Malema, has written to Ramaphosa, asking him to accept Nene's reported offer to resign.

Earlier this year, the EFF wrote to Nene, asking him to reply to questions about his dealings with the Guptas.

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