Johannesburg - National Treasury director-general Dondo Mogajane told the Zondo commission that the country has not fully recovered from the impact of Nhlanhla Nene's firing as finance minister in December 2015.
Nene was fired on December 9, 2015, and his removal sent the markets on a tailspin with questions surrounding why he was removed.
He was replaced with little know ANC backbencher Des van Rooyen, who lasted four days in the position before former president Jacob Zuma was forced to bring back Pravin Gordhan as the minister of finance to "calm the markets".
Mogajane gave a detailed testimony on Friday at the commission explaining the impact of Nene's removal and how it lasted longer than four days.
He said it was unlikely that the Johannesburg Stock Exchange (JSE) recovered from the massive hit it took through market capitalisation.