It took former president Jacob Zuma two to three minutes to fire finance minister Nhlanhla Nene in December 2015, the state capture inquiry heard on Wednesday. Nene is testifying at the inquiry about his time as finance minister under Zuma, and his interactions with the controversial Gupta family. He was removed as finance minister by Zuma in December 2015 and replaced with little known ANC MP Des van Rooyen. The move sent the rand into free fall.

He was reappointed as finance minister in February 2018 when President Cyril Ramaphosa was elected after Zuma’s resignation. Nene told the commission that after a marathon cabinet meeting on December 9 2015, he was on his way home when he got a call from the president's office and returned to the Union Buildings. He said Zuma told him in isiZulu about a Brics bank job at the Africa regional centre, which was going to open in Johannesburg. Nene said Zuma said the matter had been discussed by the ANC top six officials and they agreed h...

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