Allegations against Minister of Finance, Nhlanhla Nene, must be investigated by the Public Protector

Issued by David Maynier MP – DA Shadow Minister of Finance
05 Oct 2018 in News

The Minister of Finance, Nhlanhla Nene, strongly denies that he ever acted inappropriately when it comes to any investments, including any investments involving his son, Siyabonga Nene, made by the Public Investment Corporation.

However, the allegations surrounding a Public Investment Corporation investment in S&S Refinarias, which reportedly included a US$ 1.7 million “referral fee”, which may have benefited Siyabonga Nene, are serious, given the fact that in terms of Section 96(2)(b) of the Constitution ministers may not:

  • “…expose themselves to any situation involving the risk of a conflict between their official responsibilities and private interests”.

I will, therefore, request the Public Protector, Advocate Busisiwe Mkhwebane, to investigate this matter, in terms of Section 4 of the Executive Members Ethics Act (No. 82 of 1998), in order to determine whether there was any breach of the code of ethics, which is applicable to ministers, and to deputy ministers, in South Africa.