I know, everyone is sick and tired of reading about State Capture, but put aside your “bombshell” headline fatigue for a second because yesterday was all action.

That’s because Finance Minister Nhlanhla Nene decided it was time to spill the beans, opening up about how he had to fight Jacob Zuma in order to stave off what would have been a crippling nuclear deal.

Having kept rather mum on what led to his December 2015 sacking, Nene suddenly found his voice when appearing before the commission, headed up by Deputy Chief Justice Raymond Zondo.

News24 has plucked out these four revelations from his testimony:

1. Nene said he twice refused to sign off a nuclear deal with Russia because it would have had severe financial implications for the country.

He first told former energy minister Tina Joemat-Pettersson that he would not sign off a deal for Russia to provide South Africa with nuclear energy, because it lacked a feasibility study and there were unknown cost implications. He asked her to rewrite the letter, but still refused to put his signature on it.

2. Nene also told the commission that his own colleagues were hostile towards him after he refused to sign off the deal and said rural development minister Maite Nkoana-Mashabane and former minister David Mahlobo [below] accused him of insubordination.

3. Nene also said his Russian counterparts knew very little about the deal and added that, when he questioned them, they told him they were aware of the deal but were not privy to the details.

4. The finance minister admitted that he continued visiting the Guptas’ Saxonwold home in 2014, even after National Treasury undertook to investigate the family for the Vrede dairy farm deal with the Free State government.

It’s the bit about Zuma going rogue on the nuclear deal that really stands out for me. Despite all evidence pointing to it being a complete disaster, which would cripple the South African economy for decades, Zuma and his cronies forged ahead.

Times LIVE had this to say:

[It was] by far the most dramatic testimony exposing Zuma as power-drunk and contemptuous of the responsibilities on the minister of finance and strict rules that govern state spending.

Nene told the inquiry how the day before his axing, Zuma threatened him and former Treasury director-general Lungisa Fuzile at a meeting attended by ministers involved in the nuclear project. This was after Nene and Fuzile opposed a proposal by the department of energy on the nuclear deal, as it severely understated the cost of the project.

…Nene’s caution on the Engen deal [PetroSA sought to purchase a majority stake in Engen], saying he would only consider the guarantee after receiving the necessary documentation and conducting the normal evaluation process, led to Zuma making a bizarre accusation against his department.

“It was at that point that President Zuma, in the presence of the Malaysian official connected to PetroSA, raised the issue of spies within Treasury,” said Nene.

A month later, a bogus intelligence report titled Project Spiderweb surfaced.

It suggested the Treasury had been “captured” by apartheid-era intelligence operatives as well as “white monopoly capital” to control the country’s finances. The document also claimed Nene was being “handled” by Absa CEO Maria Ramos [above], whom it codenamed the “Queen of Leaves”.

This man would sink an entire country just to curry favour with Vladimir Putin. Here we are, the South African taxpayers, footing the bill for Zuma’s ongoing legal tussles, when he did everything in his power to bury us.

If you’re wondering why SAA has gone to the dogs, here’s a clue:

Nene testified how his conflict with former South African Airways chairperson Dudu Myeni led to a further breakdown in his relationship with Zuma. He said he opposed Myeni’s attempt to change the terms of the Airbus contract, as it would have resulted in SAA defaulting on its loans, with severe consequences for the Treasury.

Nene said his view that Myeni should step down because of the crisis in SAA under her leadership and his opposition to her and Zuma’s proposal for a new flight route to Khartoum “frustrated” the former president and contributed to his firing.

Basically, everything Zuma touched turned to failed enterprise.

I’m sure there will be plenty more days like yesterday, where we are reminded of the depth of the State Capture rot, but that’s quite enough for today.

[sources:news24&timeslive]