Finance Minister Malusi Gigaba holds his first media briefing. Picture: Independent Media

Pretoria – New Finance Minister Malusi Gigaba has made it clear he has no other forms of income other than being paid by the government.

"I have been a politician all my life and has no business interests; the only additional income is rent from a house in Midrand," said Gigaba.

This comes after wide speculation that Gigaba is under the Gupta payroll. The wealthy family has been alleged to have captured the state, including President Jacob Zuma and several other ministers.

Gigaba was addressing the media for the first time after being moved as head of the Home Affairs on Thursday night.

Gigaba added that he too was shocked at the appointment. "I was shocked when I got the call to be the finance minister on Thursday night; I was given no reason, but I will perform my duty," he said.

When asked about his competence and financial background Gigaba replied: "When Trevor Manuel came into the Finance Minister portfolio he did not have experience, as with the others, except Nhlanhla Nene," he said.

Pretoria News