OVERVIEW: Meeting with Zuma before being axed 'lasted 2-3 minutes' - Nene to #StateCaptureInquiry

2018-10-03 15:30

Finance Minister Nhlanhla Nene has shed some light on what transpired when former president Jacob Zuma pushed for a nuclear deal with Russia, and events leading up to his eventual axing from Cabinet.

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WATCH LIVE: #StateCaptureInquiry | Nhlanhla Nene testifies 

Minister of Finance Nhlanhla Nene

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Last Updated at 19:55
03 Oct 15:44

The commission adjourns for the day.

03 Oct 15:43

03 Oct 15:43

Advocate Pretorius and Zondo now discussing when the commission will reconvene again - at present, it seems the commission will only reconvene on October 10. 

03 Oct 15:40

Nene finishes up and Zondo thanks him for his testimony, reminds him that he may be called back to the commission.

03 Oct 15:35

Zondo asks Nene if he knows whether or not the ANC Top 6 keep minutes of their meetings - Nene says he does not aspire to know.

03 Oct 15:28

Nene nearing the conclusion of his testimony, says his statement to the commission may not reflect all that he witnessed during his time as finance minister. He says he reserves the right to supplement his statement to the commission.

03 Oct 15:24

Nene mentions the fact that he was also invited to the infamous Gupta wedding at Sun City, but he declined the invitation.

03 Oct 15:21

Nene says he was already serving in the Brics Bank and the position offered to him was "lower" than the one he already held.

03 Oct 15:20

03 Oct 15:20

03 Oct 15:19

Nene now details the events around his removal as finance minister, after Zuma had summoned him to his office. 

03 Oct 15:17

Nene details an exchange between Myeni and himself, in which she wrote to Nene to request a business case on the feasibility of an SAA route from SA to Khartoum. According to Myeni, Zuma called her from Sudan to make the request. This had all happened shortly after Omar al-Bashir left SA under controversial circumstances. 

Nene concludes by saying he refused the request for such a route, and he believes this also contributed to his eventual axing. 

03 Oct 15:13

03 Oct 15:12

03 Oct 15:08

03 Oct 15:06

Nene says he called for Myeni's removal from the SAA board. 

03 Oct 15:05

Nene still detailing events that transpired with SAA. 

03 Oct 15:04

03 Oct 15:00

03 Oct 15:00

Nene continues to detail the agreements between SAA and Airbus, says at one point Airbus wanted to walk away from the agreement, which would have meant that SAA would have been liable for large payments and would have been left in an even more dire financial situation.

Nene paints a picture of the mismanagement at SAA, with Dudu Myeni at the helm.

03 Oct 14:49

Nene says they amended contractual agreements with Airbus, which included a refund of a R1.3bn pre-delivery payment.

03 Oct 14:48

Nene details the guarantee facility granted to SAA, after he had received a request from former public enterprises minister Lynne Brown. Nene says the total guarantee facility totalled over R14bn.

03 Oct 14:44

03 Oct 14:41

Nene now detailing the losses at South African Airways (SAA).

03 Oct 14:40

03 Oct 14:39

Nene agrees with what Jonas said in his statement, that Nene's opposition to the nuclear deal was what triggered events leading up to his axing.

03 Oct 14:28

03 Oct 14:26

Nene: "I had expended all my fighting power."

03 Oct 14:26

03 Oct 14:25

03 Oct 14:21

03 Oct 14:20

Nene says the meeting concluded with the decision to proceed with the nuclear deal, despite Treasury's concerns, and at the end of the meeting Zuma made an off-the-cuff remark saying "you (Treasury) will not do to us what you did to PetroSA".

03 Oct 14:17

03 Oct 14:16

Nene says he had arrived at a meeting at the scheduled time and realised the meeting had started an hour earlier without him present.

When he arrived, he discovered a consultation had taken place between Zuma, Joemat-Pettersson, then state security minister David Mahlobo, then public enterprises minister Lynne Brown, and then Dirco minister Maite Nkoana-Mashabane.

03 Oct 14:11

Nene says the exclusion of Treasury from meetings and talks had become a pattern.

03 Oct 14:08

03 Oct 14:07

Proceedings resume after the adjournment, and Nene continues with his testimony regarding the nuclear deal.

03 Oct 13:01

Pretorius requests the lunch adjournment, and Zondo grants it.

03 Oct 13:00

03 Oct 12:59

Nene says after he returned from Russia, he received a call from Jonas, who told him that Zuma was unhappy with him.

Jonas told Nene he had been called to a meeting with Zuma where the president expressed "dissatisfaction" with Nene, particularly the stance Nene took on the nuclear procurement process, and his refusal to sign the draft letter.

03 Oct 12:53

Nene mentions a meeting with Russian ministers, some of whom spoke through translators.

According to Nene, his Russian counterpart and his deputy also didn't know much about the details of the deal.

03 Oct 12:52

03 Oct 12:51

Nene makes reference to a meeting with Zuma on the matter, says it ended in an "impasse".

03 Oct 12:50

03 Oct 12:49

Zondo asks Nene to confirm whether there was any hostility in Cabinet directed towards Treasury.

Nene: "That is very true." 

03 Oct 12:48

03 Oct 12:44

03 Oct 12:41

03 Oct 12:40

Nene says that even though the words weren't specifically used after his refusal to sign the letter, it was inferred that he was being accused of "insubordination". 

03 Oct 12:37

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