UPDATE 4-South Africa's Ramaphosa to announce departure of finance minister Nene - ANC source

Nene - ANC source@

* Finance minister in crisis after admitting to Gupta visits

* Rand volatile ahead of Ramaphosa announcement

* President has vowed to crack down on corruption (Recasts with Nene set to be removed)

JOHANNESBURG, Oct 9 (Reuters) - South African President Cyril Ramaphosa will announce the departure of Finance Minister Nhlanhla Nene at a news conference at 1430 GMT, a senior source in the ruling African National Congress told Reuters.

"He is gone," the source told Reuters, in response to a question as to whether Ramaphosa had decided to remove Nene. The source would not reveal the name of Nene's replacement.

Nene is facing calls to resign after he admitted to visiting the Gupta brothers, friends of scandal-plagued former president Jacob Zuma who have been accused of high-level influence-peddling, and failing to disclose the meetings earlier.

Zuma and the Guptas have denied any wrongdoing.

The rand was volatile, swinging firmer before weakening following the announcement that the president would speak on Nene from Cape Town.

The statement said Ramaphosa would address "developments emanating from the recent testimony of Minister of Finance Mr Nhlanhla Nene before the Commission of Inquiry into State Capture".

Nene became a divisive figure in the scandal after acknowledging in a hearing that he had visited the Gupta brothers at their homes in Johannesburg, a confession his opponents said tarnished his credentials. He publicly apologised on Friday.

The Gupta brothers - Ajay, Atul and Rajesh - have been accused of using their friendship with Zuma, Ramaphosa's predecessor, to siphon off billions of rand in state funds and of inappropriately influencing cabinet appointments.

The crisis over the finance minister has thrown a spotlight on Ramaphosa's promise to crack down on corruption and boost economic growth.

Asked repeatedly at a media event in Cape Town whether Nene still enjoyed his confidence and what the future might hold for the finance minister, Ramaphosa made light of the questions and pretended there was something wrong with his hearing.

"I am hard of hearing. I actually have go to an ear (specialist) ... See you later," he said. (Additional reporting by Wendell Roelf in Cape Town Writing by James Macharia; Editing by Kevin Liffey)