South Africa’s Finance Minister Nhlanhla Nene resigns

South African President Cyril Ramaphosa has announced the resignation of Finance Minister Nhlanhla Nene, who has been criticized for meeting with the Gupta family.

“After careful consideration of the circumstances…. I decided to accept his resignation,” said the president at a press conference.

Nene admitted last Friday that he had not told the truth about his meetings with the Gupta family, accused of using his friendship with former president Jacob Zuma to obtain government contracts.

The Gupta and Mr. Zuma denied any wrongdoing.

South African President Cyril Ramaphosa immediately appointed Tito Mboweni as Finance Minister.

Mr. Mboweni, who is the former governor of the central bank. He was sworn in at a press conference in Cape Town on Tuesday.