South Africa’s finance minister Nhlanhla Nene has quit after admitting meeting members of the Gupta family, who have been accused of corruption.

President Cyril Ramaphosa said he accepted the resignation “in the interests of good governance”.

The Guptas have been accused of working with former President Jacob Zuma to secure government contracts and determine cabinet appointments.

Both the Guptas and Mr Zuma deny the allegations.

Mr Nene has been replaced by former central bank chief Tito Mboweni. This is the fifth change of finance minister since 2014.

Last week, Mr Nene told a judge-led inquiry into the alleged influence of the Guptas, known as the Zondo commission, about meetings that he had previously denied.

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