Having just battled with replacing the speedometer drive on my mini over the weekend, and eventually finding a good method to loosen the old cable from the gearbox end, i thought it might be useful to someone if i shared my idea!
I found that the cable was too tight for me to undo with my hand, especially as its difficult enough to fit your hand up past the drive shaft anyway, so eventually, after trying to get grips or pliers on the thing, came up with this method:
1, Acquire a medium sized chisel and hammer.
2, Poke chisel through hole where driveshaft goes through subframe.
3, Position chisel on one side of the nut on the end of the cable.
4, Tap gently with hammer until the chisel digs in slightly and rotates the nut.
5, Repeat until finger loose then undo by hand.
6, Congratulate yourself and put the kettle on.
Pictures of the method:



Hope this is useful
James