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Inquiry: Nene denies claims of misusing PIC position to benefit his family

Finance Minister Nhlanhla Nene has confirmed that he received two letters from the EFF accusing him of having facilitated the Gupta’s access to the Public Investment Corporation.

Finance Minister Nhlanhla Nene arrives at the Zondo Commission of Inquiry into state capture on 3 October 2018. Picture: EWN

JOHANNESBURG - Finance Minister Nhlanhla Nene has denied claims that he used his position as chairman of the Public Investment Corporation (PIC) to improperly benefit his family.

Nene was testifying at the state capture commission in Parktown.

On Tuesday, the EFF claimed that Nene worked closely with the Gupta family when he was deputy finance minister and chair of the PIC.

The red berets claim Nene did so to benefit his son's business interests.

Nene has confirmed that he received two letters from the EFF accusing him of having facilitated the Gupta’s access to the PIC.

He says he's also noted allegations that he acted to source funding for his son oil’s company from the PIC and that his wife allegedly received foreign funds in her account.

"I deny that I have ever acted inappropriately regarding any investments made to the PIC. I reject with contempt the allegations that my wife received foreign funds in any account belonging to her.”

Nene also says the timing for all these allegations is strange.

“I find these allegations interesting and strange; just before my appearance they begin to surface."

He did admit, though, that he has not responded to a letter the EFF sent to him a few months ago, which asked about his relationship with the Gupta family and whether or not he negotiated business dealings for them at PIC.

(Edited by Mihlali Ntsabo)

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