We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

The night Nhlanhla Nene was removed as finance minister in December 2015, the then Treasury director-general, Lungisa Fuzile, said he was told a "Gupta minister" had been appointed. Nene was fired by former president Jacob Zuma on the evening of December 9 2015 and replaced with little unknown ANC backbencher Des van Rooyen. The appointment caused turmoil on the markets, wiping out approximately R500bn from the economy. Zuma was forced to remove Van Rooyen four days after his appointment and replaced him with Pravin Gordhan for his second stint at the Treasury. Fuzile was testifying at the state capture inquiry on Wednesday about his time at National Treasury under different ministers. He left the Treasury in May 2017 after Gordhan was fired, and after serving 19 years in the department.

Fuzile told the commission that on the night Nene was axed, he received a call from the ANC's head of economic transformation subcommittee, Enoch Godongwana. During the conversation, Godongwan...

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 articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now