Former finance minister Nhlanhla Nene will be joining the Allan Gray group as a non-executive director‚ it was announced on Monday.
“We are very happy to have someone of Mr Nene’s experience on our board‚ and we are grateful that he chose to accept the appointment‚” said board chair Ian Liddle.
“We are looking forward to his strategic and leadership contribution to the board.”
The company statement said “Nene has extensive experience in the financial services and public sector”‚ and listed his progress from serving “in local government from 1996” to his holding the position of “minister of finance from May 2014 until December 2015”.
Last week‚ Nene was keeping mum over his new appointment in the private sector.
Four months after his surprise firing by President Jacob Zuma – which caused turmoil in the markets and a far-reaching political crisis for the African National Congress - Nene told eNCA that he was moving on.
Nene told the broadcaster that it was not “wise” to talk about future employment before actually being employed as that would “jump the gun”‚ but did quip that his “gardening leave” is coming to an end soon.
Nene also expressed shock at the fact that his axing‚ and replacement by an unknown‚ Des van Rooyen‚ had such an extensive impact on the economy.
“We are in a global economic village and whatever happens in our country will have an impact in the markets‚ and of course I was surprised by the magnitude because I would have thought that‚ as a mere mortal‚ it would‚ even if there was a movement in the markets‚ it would be something that would be short-lived‚ but indeed I was a bit taken aback”‚ he told eNCA.
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