Johannesburg - Allan Gray has reportedly appointed former finance minister Nhlanhla Nene to its board.
According to a Bloomberg report, the investment company has hired Nene, who was unceremoniously fired by President Jacob Zuma last December, as a non-executive director of money management.
Nene was fired and replaced by little known David (Des) van Rooyen briefly last year before Zuma made a u-turn and put Pravin Gordhan back as head of SA’s finances.
At the time, Zuma said Nene would be South Africa’s nominee to the Brics Bank.
Last week, Nene told eNCA he had taken up a job in a private company.
According to the interview conducted from his home in Kranskop, KwaZulu-Natal, Nene said he would soon be ending his “garden leave” and joining the private sector.
He, however, refused to furnish any further details about his next role as he said it was in bad taste to do so before starting employment.
But Nene told the broadcaster he did not know about his firing from office until the very day President Jacob Zuma made the announcement.
The Presidency said at the time that Nene was being moved from the ministry as he was earmarked for a senior position in the Brics Development Bank.
The move sparked a crisis in the financial markets resulting in a sell-off in the rand and bonds.
Nene said he had no regrets about any decisions he took as finance minister.IOL