Siyabonga Nene

Photo by Gallo Images / Rapport / Deon Raath

Siyabonga Nene: Four things to know about Nhlanhla Nene’s son

He’s been implicated in a dodgy deal regarding the PIC, state capture, and the Guptas. So who is Nhlanhla’s lad, Siyabonga Nene?

Siyabonga Nene

Photo by Gallo Images / Rapport / Deon Raath

When your father is the finance minister, there’s a higher level of scrutiny that comes with your business deals. Siyabonga Nene – son of Nhlanhla – has found that out the hard way this week.

Nene Snr is being accused of showing nepotism towards Siyabonga, and his ties to the Gupta family are being questioned. Nene Jnr’s business partner Amir Mirza is said to have received a $1.7m payment for introducing the PIC to an investment opportunity, and the Indian billionaires got themselves involved.

It’s reported that the Gupta brothers were aware of the deal and wanted to muscle in the financial rewards. However, it seems that the PIC did not want to enter that agreement with them. The Mail and Guardian published a very revealing breakdown of the situation on Friday morning.

But we want to get into the background of Siyabonga Nene – here’s what we know about the minister’s son on the wrong side of the news headlines:

Who is Siyabonga Nene?

Work with Indiafrec

Along with Mirza, Nene Jnr became the director of Indiafrec in November 2012. The trade and investment company would wait two years before approaching the PIC, to offer them an investment in the Mozambique oil refinery S&S Refinarias.

The conflict of interest

Nhlanhla Nene was the chairperson of PIC between 2008 – 2014, stepping down after he became finance minister four years ago. Indiafrec secured their $25 million loan from the organsaition during Nene’s last months of governance. This, plus the Gupta interest, is what has got tongues wagging.

Personal life

We know that Siyabonga is 33 years old, and spends a lot of time with his family at their farmland in Durban. He’s also credited with running a small internet cafe in Greytown – a far cry from dealings with the PIC. He’s also a univeristy graduate with a diploma in Information Technology studies.

He has one younger sister, Nkosingiphile, and a younger brother, Sibusisiwe, who is studying social sciences at the University of Cape Town.

He’s gone through the ultimate “embarrassing dad” moment

Any excuse we get to share this, we will. If Siyabonga does end up causing his dad a bit of embarrasment, the pair should agree to call it a draw. Say guys, do you remember when the finance minister’s chair broke live on SABC and he fell off of it? We do…