South Africa's finance minister Nhlanhla Nene resigns

Nhlanhla Nene talks to the media at a press conference ahead of a roundtable bringing global business leaders to South Africa to discuss the government's reform agenda in Johannesburg on June 28, 2018.

Johannesburg (CNN)South African President Cyril Ramaphosa accepted the resignation of the country's finance minister Nhlanhla Nene on Tuesday, following what the President described as "errors of judgement."

In a nationally televised address, Ramaphosa said he accepted Nene's resignation because of "errors of judgment" as a result of a controversy surrounding Nene's testimony in an ongoing graft inquiry in South Africa.