Uncertainty over the future of Finance Minister Nhlanhla Nene is leaving markets jittery, in a development the Banking Association of South Africa (Basa) has described as “unfortunate”.
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Basa: Nhlanhla Nene fears worsening ‘jittery’ markets
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REPORT – Nhlanhla Nene asks to be relieved of his duties
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Following a public apology for meeting the Gupta brothers at their Saxonwold home instead of a public place, Finance Minister Nhlanhla Nene has asked to be relieved of his duties, according to a Business Day report on Monday.
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Tea parties at Saxonwold:- A timeline of Nene’s meetings with the Guptas
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As rumours swirl that Nhlanhla Nene may have had an untoward business relationship with the Gupta family, the finance minister has denied any such claim but has admitted that he did have meetings with the family during his tenure as deputy minister.
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State Capture Inquiry Update:- Zuma Cabinet members turned against Nene
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Members of former president Jacob Zuma’s Cabinet were hostile towards Finance Minister Nhlanhla Nene after he refused to approve a controversial nuclear deal, the commission of inquiry into state capture heard on Wednesday.
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Gupta-linked director general removed from Public Enterprises
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Richard Seleke, the controversial director general of public enterprises, has left public service after reaching an agreement with the presidency.
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State Capture Inquiry Updates:- How Zuma faked a job for Nene
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Former president Jacob Zuma did not give Nhlanhla Nene any reason why he was fired from his position as finance minister in December 2015, but instead presented Nene a “fabricated” job offer.
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Dark times ahead in SA – 10 of Eskom’s 15 power stations has less less than three weeks’ coal left
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Ten of Eskom’s 15 power stations have less than three weeks of (black) coal stock left. According to spokesman Khulu Phasiwe, stock is low due to the fact that supply can not be replaced quickly enough. Accusations are now being placed on Tegeta Exploration who can not fulfil their contractual obligations because they are placed..
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Influence of Zuma and the Guptas is still sinking government entities – Denel struggles to pay salaries
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The weapon manufacturer Denel could not pay his senior management’s full salary at the end of September. Denel needs urgent funding and financial assistance and will probably be helped by treasury with tax money to continue production. The influence of Zuma and the Guptas is still having a great influence on state entities and are..
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Blackmailing ‘rumours’ made by Jonas about Hlongwane and Duduzane
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Duduzane Zuma and Fana Hlongwane have said that their infamous meeting at the Guptas’ Saxonwold compound with former deputy finance minister Mcebisi Jonas was merely to clear up rumours that Hlongwane was blackmailing Jonas.
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Following the Zondo Commission so far, The Reserve Bank warns of ‘catastrophic’ impact if banks kept Gupta accounts open
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South Africa’s “big four” banks could have been locked out of the international payments system with “absolutely catastrophic” results if they had kept the Gupta family’s bank accounts open in 2016, according to South African Reserve Bank deputy governor Kuben Naidoo.
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Cyril Ramaphosa accused of double standards
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The confession by Deputy Correctional Services Minister Thabang Makwetla during an ANC national executive committee (NEC) meeting that he received a more than R1-million cash bribe, and returned it to an unknown businessman six weeks later, will be at the centre of debates during next week’s NEC meeting.
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Standard Bank warned that their license will be suspended if they close Gupta’s bank account
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Ian Sinton of Standard Bank told the Zondo commission how the former minister of mineral affairs, Mosebenzi Zwane, requested the bank not to close the Gupta accounts, on which the minister pointed out that the bank would not violate the laws by doing so. Zwane’s response was that he would change the law that would..
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Des Van Rooyen lost no time in the treasury
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On December 9 2015, ANC backbencher Des van Rooyen was appointed finance minister. Four days later, after intense pressure, then-president Jacob Zuma rescinded his appointment, shifted him to the co-operative governance and traditional affairs department and appointed Pravin Gordhan to control the nation’s purse strings.
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Zibuse Comfort Ndigi withdraws from Zondo commission citing time constraints, one can only wonder why!
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The appointment of Durban attorney Zibuse Comfort Ngidi, a staunch ally of former president Jacob Zuma, to the Zondo commission investigating state capture, has been halted.
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So it is Day One for the state capture inquiry to get underway
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The highly anticipated judicial commission of inquiry into state capture — headed by Deputy Chief Justice Raymond Zondo — will kick off on Monday in Parktown, Johannesburg.
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