was trading on a yield of 8.66% at the beginning of the week‚ ended the week at 10.40%. Within days, van Rooyen was removed as Finance Minister and replaced by Pravin Gordhan. The Presidency announced that Nene had been nominated to lead the African Regional Center of the New Development Bank/BRICS Bank in Johannesburg. Nene however indicated in the Financial Mail that he had not received official confirmation of this nomination, and the nomination did not materialise. In a Sunday newspaper Nene said he had acted "in the best interest" of the country when he took on President Jacob Zuma's close ally, SAA chairwoman Dudu Myeni. Nene initially returned to Parliament, but resigned as an MP later that month. Second term as Finance Minister in 2018 Cyril Ramaphosa succeeded Zuma as President of South Africa in early 2018, and appointed Nene as Finance Minister. Nene resigned on 9 October 2018, following his admission that he had visited the controversial Gupta family on several occasions. Tito Mboweni was appointed to succeed him. Other activities African Development Bank (AfDB), Ex-Officio Member of the Board of Governors (since 2018) Joint World Bank-IMF Development Committee, Member (since 2018) Multilateral Investment Guarantee Agency (MIGA), World Bank Group, Ex-Officio Member of the Board of Governors (since 2018) World Bank, Ex-Officio Member of the Board of Governors (since 2018) 2008 Chair mishap In 2008 he became an online hit after a 26-second clip of him falling from a chair during a television interview was posted on the video website YouTube. The chair malfunction occurred while Nene was answering questions concerning Finance Minister Trevor Manuel's mini-budget on the programme View from the House. On the video, the chair cracks audibly, causing Nene to wince, though he kept speaking. Twelve seconds after the cracking sound the chair failed catastrophically, causing Nene to fall backwards, his hands grabbing at the desk as the chair collapsed beneath him. Presenter Hayde Fitzpatrick managed to keep stone faced as the camera switched quickly to her. The program then went to a commercial break while the producers ascertained Nene's condition. He was unharmed and the interview continued, with Nene in a different chair. The incident led to an apology from the South African Broadcasting Corporation after the clip was leaked onto the internet. SABC spokesman Kaizer Kganyago called the event "unforeseeable and an accident," adding that "Mr. Nene must be applauded for being a