JOHANNESBURG: There is mounting speculation this morning that President Ramaphosa is set to make an announcement on the future of the embattled Finance Minister Nhlanhla Nene.
At issue – his two different versions of events regarding his meetings with the connected Gupta family.
He has since issued an apology for being less than truthful.
According to eNCA, several sources that the announcement is likely to be made at a scheduled briefing by Ramaphosa at Tuynhuys in Cape Town, as soon as 9.30 this morning.
Financial markets have been abuzz. Government bond yields have been pushed to their highest levels in almost a year and the Rand has moved close to fifteen to the dollar.
If Nene goes it would come two weeks before he is due to present his medium-term budget policy framework. Overnight pressure has been mounting for Ramaphosa to act.
A letter to the President from the EFF leader Julius Malema said government had a chance to clean up the cabinet by also firing other ministers, sentiments that have also been expressed by the DA.
The ANC’s key alliance partner Cosatu, has added its voice to those calling for him to go, saying his reputation has been compromised.
Lauded as the man who said no to approving a nuclear deal that could have bankrupted the country, Nene is now defending his political career and his integrity.