Former S. African finance minister resigns as MP of ANC

Former Finance Minister Nhlanhla Nene confirmed on Saturday that he has resigned as Member of Parliament of the ruling African National Congress (ANC).

"It was proper for me to resign as an ANC MP," said Nene who was unceremoniously fired by President Jacob Zuma late last year, replaced by largely unknown David van Rooyen, an ANC MP. But four days later, Van Rooyen was replaced by Pravin Gordhan, who previously served as finance minister.

Nene said he resigned last December but his resignation was processed only last month.

"In line with my removal I felt it would be the proper thing to do,"Nene said.

Zuma's firing of Nene sparked chaos at the South African financial market, sending the local currency rand plummeting to record lows against the U.S. dollar.

Zuma explained later that he fired Nene because the former finance minister was nominated to take up the position of the head of the African Regional Centre of the BRICS New Development Bank.

"Mr Nene is our candidate for this position. We are fully backing his candidature, knowing full well that he will excel and make the nation proud in his next assignment," Zuma said at the time.

"Whatever comes, comes," Nene said, adding that he looked forward to taking up the position for which he was nominated.

The Office of Parliament Speaker Baleka Mbete has also confirmed Nene's resignation. Endit