South African Finance Minister Nene Resigns Over Alleged Guta Corruption Scandal


South African president Cyril Ramaphosa on Tuesday (9) appointed former central bank governor Tito Mboweni as finance minister, replacing Nhlanhla Nene who admitted to having meetings with the Guptas business family at the centre of alleged corruption. Nene faced calls to resign after he admitted visiting the Gupta brothers, friends of scandal-plagued former president Jacob Zuma who have been accused of high-level influence-peddling, and failing to disclose the meetings earlier. Zuma and the Guptas have denied any wrongdoing. The rand firmed moments before Mboweni was announced finance minister at a ceremony in Cape Town. Banking stocks closed more than one…

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