South African finance minister resigns after graft testimony
10 Oct 2018

AP — South Africa’s finance minister resigned on Tuesday after acknowledging missteps during the scandal-tainted tenure of former president Jacob Zuma.

The resignation of Nhlanhla Nene was announced by President Cyril Ramaphosa, who has pledged to clean up corruption and revive South Africa’s economy, which is in recession. The president appointed Tito Mboweni, former head of the South African Reserve Bank, as the new minister and told him to be ready for a Cabinet meeting on Wednesday.

Ramaphosa said he accepted a resignation letter from Nene in “the interests of good governance” and praised him, saying he quit to avoid creating distractions from the task of restoring trust in the South African government.

The president said Nene had not been implicated in any wrongdoing, though opposition parties have called for an investigation of an investment by the state-run Public Investment Corporation that may have benefited Nene’s son, Siyabonga. Nene has denied that he acted inappropriately in that case.

Link to AP.

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