Finance minister Nhlanhla Nene held several meetings with the Guptas during his first term, and prior to that when he was deputy minister, where they demanded his intervention to get them in on the Public Investment Corporation’s (PIC) deal that funded Iqbal Survé’s takeover of Independent News and Media group. Nene — whose firing and replacement by the relatively unknown Des van Rooyen in December 2015 was one of the most notorious episodes of the Jacob Zuma presidency — will for the first time own up to his interactions with the Guptas. The family and friends of Zuma and his son’s business partners have been at the centre of state capture allegations and stand accused of using their connections with the former president to channel state resources to their businesses. Nene is due to testify at the Zondo commission into state capture on Wednesday. It is understood that the Guptas summoned Nene to a number of meetings when he was deputy minister of finance and chair of the PIC after ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.