Nene’s long walk to shame
From being a student activist in Pietermaritzburg in the 1970s to landing the plum job of minister of finance, Nhlanhla Musa Nene has come a long way.
As deputy and later minister of finance, it had seemed inconceivable that the person leading what is arguably South Africa’s most strategic and sensitive government portfolio would make a costly slip-up in the form of seven visits to the notorious Gupta family at a time when they had several strategic objectives on their agenda.
From former president Jacob Zuma, his family, the captains of some state-owned enterprises, some Cabinet ministers and high-profile ANC leaders, many bosses of the country were gripped by Gupta mania.
In the ongoing Commission of Inquiry into State Capture, the country has heard astonishing revelations of how the Gupta family got control of the levers of political and economic power in South Africa.
During his testimony before the commission, Nene came across as a minister who understood the importance of National Treasury within government.
As he said: “The minister of finance has weighty responsibilities and often has to make unpopular decisions, considering the long-term fiscal sustainability and economic interests of the country.
“It is this office that drives the budget process, approves loans and guarantees, oversees compliance with financial management and procurement processes that are the final bulwark against the corrupt dealings that jeopardise public finances.
“It makes sense, therefore, that those who wish to pursue a systematic strategy to raid the public coffers, or those intent on taking decisions that have the potential to undermine fiscal sustainability, would attack the role and credibility of Treasury as a means of getting access to government funding allocations and guarantees or obtain permission [or exceptions or deviations] to conceal dubious and irregular procurement.”
Nene could not have summed up his role better. He came across as the man the country believed was right for the job, having resisted pressure and saved South Africa from the ruin of a trillion-rand nuclear deal with Russia.
But despite denying inducements were offered to him to authorise deals on his visits to the Guptas, there are more questions than answers. Unlike former deputy finance minister Mcebisi Jonas and former ANC member of parliament Vytjie Mentor, who spoke out about offers the Guptas made to them in exchange for ministerial positions, Nene kept mum. This is what irked the Economic Freedom Fighters which has called for his resignation.