TIME­LINE

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May 25 2014 AP­POINTED

Nene takes over from Pravin Gord­han when Pres­i­dent Ja­cob Zuma an­nounces his new Cabi­net. Nene served as deputy fi­nance min­is­ter from 2008.

Septem­ber 22 2014 NU­CLEAR

Rus­sian nu­clear agency Rosatom an­nounces that it will sup­ply South Africa with eight re­ac­tors at a cost of $50 bil­lion. Rosatom back-ped­dles and says it had not a made the deal, but sus­pi­cions re­main that En­ergy Min­is­ter Tina Joe­mat-Pet­ters­son has struck a deal with­out Trea­sury’s ap­proval.

March 13 2015 MU­NIC­I­PAL­I­TIES

Nene tells 59 badly run mu­nic­i­pal­i­ties that he will not re­lease their monthly Lo­cal Govern­ment Equitable Share grants be­cause of their fail­ure to pay cred­i­tors like Eskom.

April 1 2015 TEN­DERS

Trea­sury launches the eTen­der pub­li­ca­tion por­tal, the first step to­wards mak­ing ten­ders more trans­par­ent and elim­i­nat­ing ten­der cor­rup­tion. When the cen­tral sup­plier data­base goes live next year, it will al­low the SA Rev­enue Ser­vice to ver­ify tax cer­tifi­cates and the Com­pa­nies and In­tel­lec­tual Prop­erty Com­mis­sion to ver­ify BEE cer­tifi­cates, and will spot gov­ern­ment of­fi­cials who are do­ing busi­ness with the state. The new sys­tem should rad­i­cally re­duce op­por­tu­ni­ties for cor­rup­tion.

July 24 2015 JOBS

Nene paints a bleak pic­ture at the ANC na­tional ex­ec­u­tive lek­gotla, warn­ing that fis­cal con­strains mean the gov­ern­ment can­not cre­ate any new pub­lic sec­tor jobs for the next two years. His re­port, Eco­nomic Out­look and Fis­cal Pol­icy Chal­lenges, says money put side for new cap­i­tal projects and new pol­icy ini­ti­ates will have to be di­verted to fund the pub­lic sec­tor wage in­crease.

Au­gust 21 2015 FAKE DOSSIER

A fake in­tel­li­gence dossier – Pro­ject: Spi­der Web – de­tails a plot by white lead­ers to keep con­trol of Trea­sury post 1994. Nene ini­tially dis­misses the dossier as a joke, but then re­con­sid­ers, say­ing it could be dan­ger­ous.

Au­gust 24 2015 NU­CLEAR

Trea­sury is fi­nally in­cluded in dis­cus­sions around the nu­clear deal. Nene says he won’t sign off on the deal un­less it is af­ford­able and un­less it com­plies with the Con­sti­tu­tion and the Public Fi­nance Man­age­ment Act.

Novem­ber 22 2015 SPEND­ING

Nene re­veals in a par­lia­men­tary re­ply that as part of Trea­sury’s aus­ter­ity drive, it has turned down 39 of the 56 re­quests by gov­ern­ment de­part­ments for lux­ury spend­ing, in­clud­ing busi­ness-class flights, lux­ury cars, ex­tra credit cards and al­co­hol bud­gets.

Novem­ber 27 2015 MU­NIC­I­PAL­I­TIES

After Nene’s in­ter­ven­tion in March, most mu­nic­i­pal­i­ties sign re­pay­ment agree­ments with Eskom and var­i­ous wa­ter boards, but as of Septem­ber 27, many of them had breached their re­pay­ment agree­ments. Nene warns he will in­voke sec­tion 216(2) of the Con­sti­tu­tion and cut off all money to these mu­nic­i­pal­i­ties un­less they fall in line.

De­cem­ber 3 2015 SAA

Nene re­jects SAA chair Dudu Myeni’s plan to rene­go­ti­ate the Air­bus air­craft ac­qui­si­tion deal. Without in­form­ing Trea­sury, Myeni wrote to Air­bus in Septem­ber telling it the board of SAA had de­cided on a dif­fer­ent deal to the one Trea­sury ap­proved in July. Trea­sury pub­licly warned the SAA board that if it went ahead with any new deal, it would “con­sti­tute an act of fi­nan­cial mis­con­duct” and could lead to sanc­tions against the board.

De­cem­ber 4 2015 RAT­INGS

Rat­ings agency Stan­dard & Poor’s down­grades South Africa’s sov­er­eign credit rat­ing to BBB sta­tus, only one rat­ing above junk sta­tus. Fitch re­tains its BBB rat­ing, but moves its out­look from “sta­ble” to “neg­a­tive”. De­spite these rat­ings, agen­cies praise Nene’s per­for­mance.

De­cem­ber 9 2015 FIRED

Pres­i­dent Ja­cob Zuma an­nounces that he is “re­mov­ing” Nene.

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