See What Ex Finance Minister Nene Has To Say About SA’s Economy


South Africa’s ex Finance Minister Nhlanhla Nene says he has every confidence in the nation’s economy knowing fully well that it is in safe hands.

Nene, who was fired by President Jacob Zuma under the disguise of making him head of  another firm, made this statement at the Mangosuthu University Technikon in Umlazi yesterday while he was being honored by the university’s faculty of management sciences for his expertise and contribution to the finance industry in both the public and private sector.

Speaking to the audience, Nene said though he missed working at Treasury and any other place he has been a part of, he is quite sure that things are well handled by those currently in charge and that he had full confidence in the country’s ability to maintain a strong financial path.

“We shouldn’t lose sight of the resilience of our economy. Resilience has been the key,” he said adding that there were proper plans in place at the Treasury.

“And we have the most capable men and women to maintain prudence and fiscal path,” he said.

Also See: Zuma Lied About Making Nene Head Of The Brics Bank

When asked about how he feels in his new appointment with the Allan Gray group as a non-executive director and if he was totally lost to the public service, Nene chuckled and said his going to the private sector was now “private capture”.

“Not lost at all,” he said. “There’s a symbiotic relationship between the public service and the private sector. We just need to nurture the working relationship of the two,”

Nene further added that his relationship with President Jacob Zuma is still intact “I have deep respect for the president” he said

However, the ex finance minister stressed on the need to inculcate morality in business. He said people ought not to acquire wealth through dubious or corrupt manner adding that hard work should be the key.

“Do not pursue wealth without hard work or wealth that is begotten by using unfair, corrupt and illegal means. Don’t be unscrupulous beings that will exploit your own people in a bid to gain instant wealth.

“Money isn’t everything, there’s more to life than making money. Success cannot be measured by having cars.

“You can possess money but don’t allow it to control you.”

The ex finance minister was appointed a non-executive director of the Allan Gray group as against his foretold appointment with Brics Bank and the Democratic Alliance (DA) wished him well saying “the former minister did his best to do the right thing and hold the fort at National Treasury” and that they hope it will not be too long before he returns to public life in South Africa.

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