President Jacob Zuma on Wednesday for the first time gave his side of the story about events surrounding his firing of finance minister Nhlanhla Nene.

For clarity sake, Zuma said “white monopoly capital and their stooges” forced him to reverse his decision to fire Nene.

“December last year I took a decision informed by what I am talking about and appointed a minister of finance, and the monopoly capital and their friends and their stooges attacked me and they are still attacking me today, we were not there… The question is if the president takes another decision, are we ready?” said Zuma.

He was speaking at an ANC Youth League (ANCYL) lecture on economic freedom at the Olive Convention Centre in Durban.

Addressing more than 2 000 members Zuma said: “The fact of the matter is that the economy is in the fewer hands…”

 “I can tell you sitting on my own being pushed to reverse the decision, I said to myself, ‘This is what happens when the nation is not alert. When they do not even understand the actions taken and then they listen to the wrong narrative’.

“Since that time some colleagues [call it] ‘the disaster’, ‘the Nene disaster’, some call it, even some amongst yourselves.”