Nhlanhla Nene Biography 5 Other Things You Didn’t Know About Him

Between May 2014 and 2016, under the Presidency of Jacob Zuma, four individuals occupied the office of Minister of Finance of South Africa. The first person in the queue was Nhlanhla Nene who held the position until he was sacked in December 2015. He later returned in 2018 under President Cyril Ramaphosa to hold the position for a few months before resigning. Learn more about the ex-minister, including details of his early life and other facts.

Nhlanhla Nene Biography

Nhlanhla Nene
Image Source

Nhlanhla Nene was born on the 5th of December 1958 in a small town situated on the edge of the Tugela River valley named Kranskop, KwaZulu-Natal, South Africa. Details of his parents are not known.

According to his educational records, Nene attended Gcothoyi Adult Centre before later obtaining a B.Com Honours degree in Economics from the University of Western Cape. The finance expert did not stop there as he further went ahead to receive a number of other qualifications from institutions in and out of Sout Africa, including the University of South Africa and the University of London. The other qualifications he received include a Diploma in Marketing Management, a Certificate and an Advanced Diploma in Economic Policy, and a Certificate in Macro and Micro Economics.

All through his time in school in the 1970s, Nhlanhla Nene was active in student politics. It made sense that after he completed his studies he joined the African National Congress (ANC) where he got to serve in various capacities. He did so as he maintained the position of Regional Administrative Manager for Metropolitan Life Insurance for 15 years.

Some of the positions Nene held as a part of the ANC include being a member of the Regional Executive Committee for the Bambatha region, serving as secretary and then chairperson of the Bambatha Branch, regional secretary of ANC Ukhahlamba region, and then ANC Local Government councilor and caucus chairperson.

In 1999, after holding the positions of chairperson for Ntunjambili Development Forum and chairperson of Kranskop Policing Forum, Nhlanhla Nene became a member of parliament. During his time there, he served on the finance committee, holding the position of chair of the Joint Budget Committee.

From November 2008 to May 2014, Nene served as South Africa’s Deputy Minister of Finance before he was later appointed as Minister by President Zuma. Economic experts are of the opinion that Nene performed extraordinary well in his position as minister. He was praised for standing against reckless spending of government as well as promoting good economic policies for the country.

READ
Helen Zille Biography - Age, Husband and Family

Five Things You Probably Didn’t Know About Him

Nhlanhla Nene
image source

1. Nhlanhla Nene Organised the First-Ever Strike in the Financial Sector

While working at Metropolitan Life Insurance Company, Nene organized the first-ever strike in the financial sector in 1990. He did so under the banner of the South African Commercial, Catering and Allied Workers Union (SACCAWU) in order for workers in the industry to enjoy better working conditions. The strike led to him leading negotiations that lasted five years.

2. He was Ousted as Minister for Standing against Negative Economic Dealings by the Government

Nene’s first stint as finance minister allegedly came to an end after he stood against some negative economic dealings which were supported by the government. His decision not to grant Sout African Airways permission to amend its deal with Airbus regarding plane purchases and leasing was pointed out as the immediate cause for his sack.

3. His Removal as Minister Affected the South African Economy

Nhlanhla Nene’s removal as his country’s finance minister saw the Johannesburg Stock Exchange lose heavily in the international markets the next day. The Rand fell to 5 percent against the dollar, FTSE/JSE all-share index shed 2.94 percent, the FTSE financial 15 index fell 13.36 percent, and the FTSE/JSE banks index dropped 18.54 percent.

Read Also: Gupta Family Empire And Net Worth: Just How Rich And Powerful Are The Guptas?

4. Nene Featured in one of the Greatest Viral Videos Ever

Nhlanhla Nene
Nhlanhla Nene (Image Source)

During an interview on the SABC program View from the House, Nene found himself crashing down to the floor after the chair he was seating on suddenly gave way. In the video that has since become a viral hit on the internet, the finance minister made sure to continue talking even though the chair had already given a sign of falling. He later found himself on the ground while the presenter of the show managed to keep a straight face before the interview went on a commercial break. Despite the incident, Nene was able to pick himself up and continue the show.

5. He is a Grandfather

Nhlanhla Nene is happily married to his wife Lisa with whom he has three kids; Siyabonga, Nkosingiphile, and Sibusisiwe. Siyabonga is an IT graduate who owns a small internet café in Greytown. Daughter Nkosingiphile, who is the mother of Nene’s grandchild, runs a small catering company but also helps her brother in his business. The last child Sibusisiwe is a social science student at the University of Cape Town.

Was this article helpful?
READ
Mamphela Ramphele: 10 Things You Didn't Know About The Activist
Andile Smith
Andile Smith
Andile provides articles on anything from Politics, Sports, History and entertainment to funny, creepy and weird. His passion for writing allows him to take what is ordinary and transform it into a real masterpiece. He's a true storyteller with a passion for tech and literature
data-matched-content-rows-num="2" data-matched-content-columns-num="4" data-matched-content-ui-type="image_stacked" data-ad-format="autorelaxed">

Recommended

Facts About Kuli Roberts Age, Kids and Life Since Divorcing Her Husband Beyers Roberts

Kuli Roberts is a South African fashion icon and beauty enthusiast. She is also a multi-talented media personality, TV presenter, and journalist who has...

Analyzing Cindy Mahlangu’s Role as a Siyanda From The Queen and Her Romance With Bongani Zungu

Cindy Mahlangu is a South African actress and model who is currently blazing the trails in the entertainment scene. Recently, she was one of...

Why Evodia Mogase Divorced Her First Husband and How Old She Is Now

Evodia Mogase has built an interesting Persona on The Real Housewives of Johannesburg. She is an iron lady who says what she feels like...

Mary Twala – Revisiting Somizi’s Mother’s Life of Successes and Legacies

Mary Twala was a South African actress whose life was a testament to duty, humility, and honor. A thespian per excellence, she left an...

How Evodia Mogase Built Her Net Worth and Affords a Luxurious House

Evodia Mogase has come a very long way having had to build her fortune independently after her divorce from her first husband. Although she...

Featured Today

Exploring Kealeboga Masango’s Rise To Fame on Rhythm City and Her Family Background

Kealeboga Masango has been under the spotlight since she snagged her breakout role in the popular South African musical drama series, Rhythm City. She...

How Quinton Jones’ Met, Married and Started a Family With Minnie Dlamini

Quinton Jones' marriage to South Africa's sweetheart, Minnie Dlamini was one of the biggest events of 2017. The news also broke so many hearts...

An Interesting List of Nandi Mbatha’s Boyfriends – Past and Present

Nandi Mbatha apparently loves the feeling of love and being treated to dates. Since the actress stepped onto the scene, she has dated a...

How Did Themba Ntuli Become So Famous and What Car Does He Drive?

Lovers of entertainment in South Africa would know the popular filmmaker, actor, and comedian, Themba Ntuli. Perhaps, one reason he has gained so much...

A Deeper Look at Quinton Jones’ Net Worth and How He Acquired His Wealth

Quinton Jones is one of the most mysterious South African celebrities. He has managed to keep his personal life very much private through the...
Was this article helpful?

Related Stories