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Nhlanhla Nene resigns as Member of Parliament

Nene’s resignation came just days after he was sacked as a Finance Minister in December.

Finance Minister, Nhlanhla Nene, delivering the 2015 MTBPS Speech in Parliament 21 October 2015. Picture: GCIS.

JOHANNESBURG - The African National Congress (ANC) has confirmed former Finance Minister Nhlanhla Nene has resigned as the party's Member of Parliament.

Nene's resignation came just days after he was sacked as a minister in December but was only processed by the office of the speaker last month.

President Jacob Zuma has received relentless backlash for the sudden move which saw the rand in freefall and investor confidence taking a dip.

The president explained Nene's axing as a move to send him to Shanghai as the country's nomination for the head of the African Regional Centre of the BRICS bank.

The ANC's Moloto Mothapo said, "Yes we can indeed confirm that former Minister of Finance has tendered his resignation. His letter doesn't provide specific reasons, so we're in a position to provide any."

The unexpected move late last year to replace Nene with David van Rooyen raised concerns and the rand was affected.

Zuma then changed his mind and reappointed Pravin Gordhan as finance minister.