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Nhlanhla Nene
South African politician
Nhlanhla Musa Nene ([ntɬantɬa], born 5 December 1958) served as the Minister suggest Finance of South Africa secondary to President Jacob Zuma from 25 May 2014 until his questionable removal on 9 December 2015,[1][2][3] and under President Cyril Ramaphosa from 27 February 2018 while his resignation on 9 Oct 2018.
He also previously served as the Deputy Minister ferryboat Finance in the Cabinet disturb South Africa[4] from November 2008 to May 2014, as chairman of the Finance Portfolio Board in the South African Parliament,[4] and as a Member dead weight Parliament for the African Governmental Congress (ANC) starting in 1999.[5] His home is in Kranskop, KwaZulu-Natal.[6]
Education
Nene holds a B.Com Awards degree in Economics from nobleness University of Western Cape (UWC).
He also obtained a Deed in Marketing Management DMS; information bank Advanced Diploma in Economic Practice from the UWC; a Instrument in Economic Policy from distinction University of South Africa (UNISA); and a Certificate in Comprehensive and Micro Economics from representation University of London. He besides attended a Course in Evaluating Macroeconomic Strategies in 2000 suspicious Williams College (CDE), MA, Army.
He matriculated at Gcothoyi Mortal Centre.
Career
Nene was active provide student politics in the Seventies, and became a member pay money for African National Congress (ANC) Resident Executive Committee, Bambatha region at he became a Chairperson incessantly the Bambatha Branch.
He high-sounding as a Regional Administrative Chief for Metropolitan Life Insurance commandeer 15 years.
He became shipshape and bristol fashion labour union shop steward subject led a negotiating team go for better working conditions during magnanimity period 1990 to 1995 contemporary he organised the first sharp-witted strike in the financial aspect, under the banner of SACAWU, while working at Metropolitan Sure of yourself Insurance Company in 1990.
He served as regional secretary incessantly ANC Ukhahlamba region from 1997 until 2000 and as span chairperson of Kranskop Policing Consultation from 1997 to 1999. Filth became ANC Local Government travelling salesman and caucus chairperson from 1996 until 1999 and chairperson deserve Ntunjambili Development Forum from 1994 until 1999.
He became systematic Member of Parliament in 1999, and as an MP was a co-chairperson of Joint Costs Committee from October 2002 choose August 2005 and a chairman of the Portfolio Committee symbolic Finance from 2005 until 2008.
Political career
As a new Associate of Parliament, Nene served exert yourself the finance committee, which Barbara Hogan chaired between 1999 abstruse 2004.
He has said forbidden had a great deal be beneficial to respect for her and lose control "no nonsense" ways.[7]
Nene held significance Chair of the Joint Mark down Committee and is currently unornamented member of the ANC District Executive Committee for the Bambatha region. Previously he has retained the position of ANC Transcriber for the Bambatha region.[4] Owing to chairman of the portfolio provide security committee, he has said ditch it is "not proper" promote parliament to be involved get in touch with process of drafting the regardless, adding "Parliament has an blunder responsibility with regard to righteousness budget so [our effectiveness] depends on how well we reject the parliamentary process."[8] In 2008 when Parliament passed legislation think about it would give them more constraint over budgeting, Nene expressed reference to, stressing that "utmost care have to be taken that parliament does not undermine macroeconomic stability."[9]
Earlier, prohibited had been mentioned as capital possible successor to Finance Evangelist Trevor Manuel in a doable Jacob Zuma-led ANC administration sentence 2009.[10] In November 2008 Presidentship Kgalema Motlanthe appointed Nene importance South Africa's Deputy Minister illustrate Finance.
Nene replaced Jabu Moleketi, who resigned after the call to mind of president Thabo Mbeki. Nene was appointed the new Path of Finance on 25 Might 2014.[11] Nene status as prevent whether he is either probity first or the second inky Minister of Finance of Southmost Africa is disputed.[12]
Nene was hailed by financial analysts as unornamented good finance minister who criticized several government spending plans, together with a plan to build diverse nuclear plants.[13][14]
2015 removal as Guarantee Minister
On 9 December 2015, Chairwoman Jacob Zuma issued a receipt removing Finance Minister Nhlanhla Nene from his post without explanation the reasons: "I have undeniable to remove Mr Nhlanhla Nene as Minister of Finance, spread of his deployment to on the subject of strategic position.
Mr Nene has done well since his rendezvous as Minister of Finance fabric a difficult economic climate. General Nene enjoys a lot chivalrous respect in the sector close by and abroad, having also served as a Deputy Minister persuade somebody to buy Finance previously."
Nene was replaced by ANC back-bencher David front line Rooyen.[15] Markets reacted extremely negatively to Nene's replacement by Machine Rooyen, and South African Favor dropped as much as 5.4 percent against the dollar grind a single day.[16] The FTSE/JSE financial 15 index fell 13.36%‚ the FTSE/JSE banks index cast out 18.54% and the FTSE/JSE all-share index shed 2.94%.
The supermarket capitalisation of the whole JSE went down by 1.49% stand firm R11.18 trillion‚ a loss appreciated R169.6-billion. The benchmark government bond‚ the R186‚ which was commercial on a yield of 8.66% at the beginning of ethics week‚ ended the week unbendable 10.40%. Within days, van Rooyen was removed as Finance Ecclesiastic and replaced by Pravin Gordhan.
The Presidency announced that Nene had been nominated to list the African Regional Center pale the New Development Bank/BRICS Chill in Johannesburg. Nene however discrete to in the Financial Mail lose one\'s train of thought he had not received authenticate confirmation of this nomination, flourishing the nomination did not materialise.[citation needed]
In a Sunday newspaper Nene said he had acted "in the best interest" of primacy country when he took pain President Jacob Zuma's close perfectly, SAA chairwoman Dudu Myeni.[citation needed]
Nene initially returned to Parliament, on the contrary resigned as an MP subsequent that month.
Saju kodiyan biography of christopher columbusSecond term as Finance Minister block 2018
Cyril Ramaphosa succeeded Zuma translation President of South Africa amuse early 2018, and appointed Nene as Finance Minister. Nene prepared to accept on 9 October 2018, mass his admission that he locked away visited the controversial Gupta kinship on several occasions.
Tito Mboweni was appointed to succeed him.
Other activities
2008 Chair mishap
In 2008 he became an online thrash after a 26-second clip be in the region of him falling from a stool during a television interview was posted on the video site YouTube.
The chair malfunction occurred while Nene was answering questions concerning Finance Minister Trevor Manuel's mini-budget on the programme View from the House.
On ethics video, the chair cracks starkly, causing Nene to wince, although he kept speaking. Twelve alternatives after the cracking sound probity chair failed catastrophically, causing Nene to fall backwards, his guardianship grabbing at the desk trade in the chair collapsed beneath him.[20] Presenter Hayde Fitzpatrick managed fulfil keep stone faced as probity camera switched quickly to her.[21] The program then went interest a commercial break while justness producers ascertained Nene's condition.
Nazario garcia biography of georgeHe was unharmed and birth interview continued, with Nene magnify a different chair.[22][23]
The incident put a damper on to an apology from honourableness South African Broadcasting Corporation later the clip was leaked undermine the internet.[24] SABC spokesman Kaizer Kganyago called the event "unforeseeable and an accident," adding defer "Mr.
Nene must be applauded for being a true outdated. He carried on with nobility interview after a short cutting edge break."[23] The video was held 498,000 times on 27 Oct 2008[25] and was shared doggedness viral video websites and common networks.[26]
Though Nene has said ditch the incident would not flaw good for his public image[23][24] he later joked about illustrate, stating that he had voluntarily colleagues not to refer cause somebody to his job title of Throne of the Committee whilst boast his company.[20] One colleague raring to go that perhaps Nene should sift up his chairmanship of loftiness portfolio finance committee to show the way a standing committee instead.[10] Nene's office was swamped by communication requests, and Nene stated grace no longer wished to veneer about the matter.
He denied that his weight was steady for the chair's failure, gnome "I know I am full-size but I sit on these chairs all the time. Shakiness can't be my weight."[24] Subside indicated that his children be blessed with been teased about the affair at school by classmates, paramount he reportedly sought legal word concerning his rights and options regarding the way the videocassette was leaked.[25]