Johannesburg - President Cyril Ramaphosa has been engaging with Finance Minister Nhlanhla Nene about his future and is expected to make an announcement soon, according to Ramaphosa's spokesperson Khusela Diko.
Diko said there have been "ongoing engagements" between the president and the finance minister and that Nene had briefed Ramaphosa on his testimony before the state capture inquiry.
Diko further said that the president was concerned that the uncertainty on the matter was having a negative effect on the markets and wished to make an announcement soon.
When pressed for more details, Diko confirmed that the president was expected at Parliament in Cape Town on Wednesday, making it likely that any announcement on Nene's fate would be made before then.
The briefing is at 4.30 pm at Tuynhuys in Cape Town.
DID NOT KNOW
On Monday, after rumours circulated in the media that Nene was about to ask Ramaphosa to relieve him of his duties, the presidency said it was not aware of any such request.
The speculation on Nene's resignation followed days of pressure by opposition parties for the president to axe Nene after the latter admitted that he had met with members of the controversial Gupta family a number of times at various venues, including their Saxonwold mansion. On Friday Nene apologised to the South African public for these meetings.
BUSINESS AS USUAL
Earlier on Tuesday, it was announced that Nene seemed to continue to work as usual.
Nene is expected to travel to Indonesia in order to represent South Africa at the International Monetary Fund and the World Bank annual meeting.
A spokesperson for Treasury said the finance minister was expected to arrive in Indonesia on Wednesday.