My new job is part of 'private sector capture', Nene jokes
Erstwhile Finance Minister Nhlanhla Nene, an invited luminary at the Mangosuthu University of Technology’s graduation ceremony, joshed that he had moved to the private sector as part of “private capture”.
Nene was honoured at the ceremony of the faculty of management sciences on Wednesday for his contribution to nation building in South Africa.
In a press briefing before the ceremony began, Nene joked about his move from the public service into the private sector.
Nene was removed from his post as finance minister by President Jacob Zuma in December last year.
His sacking prompted chaos in the markets, and he resigned as a member of parliament several days later.
This week it was announced that he had been appointed as a nonexecutive director at Allan Gray.
"A lot has been said about state capture, and what I have said is that perhaps my move to the private sector should be viewed as private sector capture."
He said the rift between the public and private sector should be discouraged and that he hoped his move would further contribute to the prosperity of the country.
Amidst much controversy, Nene was replaced by little-known ANC backbencher Des van Rooyen in December, who was then shifted out of the portfolio four days later, and replaced with Pravin Gordhan.
At the time of Nene’s dismissal, Zuma said that he had decided to strategically deploy him to another position in Brics.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
