Ramaphosa’s decision on Nene imminent

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President Cyril Ramaphosa is expected to make an announcement on the future of Finance Minister Nhlanhla Nene anytime this week.

Presidential Spokesperson Khusela Diko says President Ramaphosa has already communicated with Nene telephonically and via correspondence following Nene’s apology on Friday, after lying that he never met the Guptas.

Nene had testified at the Zondo Commission of Inquiry of State Capture in Parktown in Johannesburg that he had several meetings with the Gupta family in private.

Diko confirmed that the President will make an announcement of his decision urgently.

“We expect it quite urgently. I think end of the week is way too long. I think the President has said that he appreciates the urgency of the situation and that he is committed to ensure that it is resolved as speedy as possible one way or the other. So that decision is imminent. In fact we are just awaiting for the President to give us direction on when exactly it will be.”

The rand firmed 0.15 percent after a spokesman at the office of the President issued a statement saying the President would speak from Cape Town at 1630 on Nene.

The statement said Ramaphosa would address “developments emanating from the recent testimony of Minister of Finance Mr Nhlanhla Nene before the Commission of Inquiry into State Capture”. -Additional reporting by Reuters