Nhlanhla Nene takes up position at Allan Gray

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Nhlanhla Nene
Nhlanhla Nene

Former finance minister Nhlanhla Nene has been appointed a non-executive director at Allan Gray.

A spokesperson at the investment management firm  confirmed that Nene was appointed at a board meeting this morning.

Nene, who was unceremoniously sacked from his position as finance minister in December, resigned from Parliament a few days later. 

He was replaced by a little-known backbencher Des van Rooyen.

Zuma reassigned Van Rooyen to a new portfolio four days later following the performance of the rand, and appointed Pravin Gordhan to his old portfolio as finance minister.

At the time of Nene’s dismissal, Zuma said he had decided to remove “Mr Nhlanhla Nene as minister of finance, ahead of his deployment to another strategic position”.

Zuma later explained that the urgency of the changes in the leadership of the National Treasury was occasioned by the need to send nominations to Shanghai, of the head of the African Regional Centre of the New Development Bank/Brics Bank, to be based in Johannesburg.

“Mr Nene is our candidate for this position,” he said at the time.

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