Nene’s resignation: How did we get here?

It’s now up to the new Finance Minister Tito Mboweni to chart the way forward and take SA into his confidence as the country navigates tough economic times, characterised by a technical recession.

Former Finance Minister Nhlanhla Nene. Picture: AFP

JOHANNESBURG - It all started last Wednesday when Nhlanhla Nene made the shocking revelation at the state capture commission that he had in fact visited the Gupta family’s Saxonwold home on at least four occasions.

This was a direct contradiction to what he said during an interview with eNCA in 2016.

But at the commission last week, he made an about turn.

Nene confirmed he visited the family’s home and that it all started in 2009 when he was invited for tea by Ajay Gupta.

He received criticism from all corners and faced growing calls from opposition parties and trade union organisations to step down.

Then on Friday, he issued a public apology telling South Africans he is sorry for what he called gross oversight.

He said his meetings with the Guptas were an error of judgement and that he had failed to live up to the ideal of being beyond approach.

While speculation swirled around his future, reports emerged this week that Nene had asked to be relieved of his duties.

And the president has now honoured that request.

It’s now up to the new Finance Minister Tito Mboweni to calm the waters, chart the way forward and take the country into his confidence as South Africa navigates tough economic times, characterised by a technical recession.

WATCH: #StateCaptureInquiry: Nene's testimony in 3 minutes