Former finance minister Nhlanhla Nene has taken up a second job in the private sector following his sacking by president Jacob Zuma, in December.
Nene has been appointed as a resident advisor to Thebe Investment Corporation.
It was announced on Monday that Nene had also been appointed a non-executive director at privately-owned investment management firm, Allan Gray, having been touted by Zuma to take up a senior position at the BRICS Development Bank.
That position has not materialised, despite president Zuma’s instance to the contrary.
A statement issued by Thebe chairman, Vusi Khanyile, said Nene’s appointment would last two years beginning May.
Nene will continue with his role at Allan Gray.
Khanyile said that Nene would assist the company with its growth plans – and to roll-out a strategic engagement agenda and framework.
The full statement reads as follows:
“I am pleased to announce the appointment of Mr. Nhlanhla Nene as a Resident Advisor to Thebe Investment Corporation. This appointment is for a term of two years effective from 1 May 2016.
“Whilst this is a full time appointment, Mr. Nene will continue with his non-executive directorships that were declared prior to this appointment; as these are not in conflict with his envisaged role at Thebe.
“Thebe Investment Corporation is on a growth path that requires significant financial resources and key skills in order to execute its strategy and plans. Mr. Nene will support the company and the executive team as they roll out these plans.
“This will include assisting the company to develop and roll-out a strategic engagement agenda and framework that will assist Thebe to properly position and equip itself for growth, whilst fully understanding the broader societal agenda for development and nation building in line with the Thebe philosophy.
“We believe that Mr. Nene’s immense skills will be most valuable to Thebe at this time. We are pleased, as the Thebe team, to welcome him on board. We trust that this role will enable him to make the contribution that we believe he is capable of making, whilst he realizes his own professional aspirations.”
Source: Business Tech