Cape Times

Dondo Mo­ga­jane ap­pointed NDB di­rec­tor

- Ka­belo Khu­malo South Africa Politics · South Africa News · Corruption · Finance · Politics · African Politics · Crime · Business · New Development Bank · Reserve Bank of India · Tito Mboweni · Jacob Zuma · German Ministry of Finance · South Africa · Facebook · Africa · Mcebisi Jonas · World Bank · Nhlanhla Nene · Malusi Gigaba · University of the Witwatersrand · government of South Africa · Pravin Gordhan · Mangosuthu Buthelezi

THERE is still no spot for the for­mer min­is­ter of Fi­nance Nh­lanhla Nene on the Brics New De­vel­op­ment Bank (NDB) af­ter for­mer SA Re­serve Bank gover­nor Tito Mboweni was shown the door as a non-ex­ec­u­tive di­rec­tor last week.

This is de­spite Nene’s in­fa­mous sack­ing in 2015 with Pres­i­dent Ja­cob Zuma say­ing Nene was set to play a key role at the de­vel­op­ment bank.

Min­is­ter of Fi­nance Malusi Gi­gaba said on Fri­day that the di­rec­tor-gen­eral of Na­tional Trea­sury, Dondo Mo­ga­jane, has been ap­pointed as the new di­rec­tor rep­re­sent­ing South Africa.

Mboweni said in a Face­book post last week af­ter news emerged that seemed to sug­gest that he was pushed out of the role: “What is true though is that I was ‘re­moved’ by the South African Gov­ern­ment as a non-ex­ec­u­tive di­rec­tor of the Brics Bank last week.

“They have their own logic and rea­sons for do­ing that.

“I served for two years and at the time of my ap­point­ment, I was told, via a let­ter from Min­is­ter Nh­lanhla Nene, that the term was a re­new­able one.

“But alas, this has not been the case. Fired, you might say!! It’s OK. They are the gov­ern­ment of the day af­ter all. They can do as they wish,” Mboweni’s post read.

Mboweni com­menced his term as South Africa’s di­rec­tor at the NDB on July 3, 2015, for a two-year term, which ended on July 2, 2017.

In jus­ti­fy­ing the sack­ing of Nene in 2015, Pres­i­dent Ja­cob Zuma said the move was be­cause Nene would be nom­i­nated to head the African re­gion of the NDB.

The ap­pointed has yet to ma­te­ri­alise and Nene has since joined Al­lan Gray as a non-ex­ec­u­tive di­rec­tor and was re­cently an­nounce by Wits Uni­ver­sity as the in­terim head of its Busi­ness School un­til the po­si­tion is filled per­ma­nently next year.

Gi­gaba in his state­ment thanked Mboweni for his ser­vice.

“In a let­ter for­mally in­form­ing Mr Mboweni of the de­ci­sion, Min­is­ter Gi­gaba has thanked Mr Mboweni for his ex­cel­lent rep­re­sen­ta­tion of the gov­ern­ment of South Africa as a mem­ber of the board and chair of the Au­dit, Risk and Bud­get Com­pli­ance Com­mit­tee with com­mend­able pro­fes­sion­al­ism and ded­i­ca­tion,” the state­ment said.

Gi­gaba’s nom­i­na­tion and sub­se­quent ap­point­ment of Mo­ga­jane will en­sure that no ad­di­tional costs are in­curred fur­ther by the gov­ern­ment in re­mu­ner­at­ing an ap­point­ment from out­side of pub­lic ser­vice, while also en­hanc­ing strate­gic align­ment and col­lab­o­ra­tion be­tween the gov­ern­ment of South Africa and the bank.

Mo­ga­jane was ap­pointed trea­sury’s di­rec­tor-gen­eral in June, fol­low­ing the res­ig­na­tion of Lungisa Fuzile in April. Fuzile re­signed shortly af­ter Pravin Gord­han and Mce­bisi Jonas were re­moved as the min­is­ter and deputy min­is­ter of fi­nance re­spec­tively in a cab­i­net reshuf­fle.

Dondo Mo­ga­jane rep­re­sented South Africa at the Ex­ec­u­tive Board of the World Bank.

Mo­ga­jane was deputy di­rec­tor-gen­eral re­spon­si­ble for the Pub­lic Fi­nance di­vi­sion at Na­tional Trea­sury be­fore his el­e­va­tion to the di­rec­tor-gen­eral role, and his ap­point­ment was wel­comed by the mar­kets as they deemed him to have the req­ui­site in­sti­tu­tional mem­ory as he served in var­i­ous roles with the Na­tional Trea­sury since 1999.

The Na­tional Trea­sury on Fri­day also an­nounced that deputy min­is­ter of Fi­nance, Sfiso Buthelezi, has been ap­pointed as the Al­ter­nate Gover­nor of the NDB for South Africa, while Monale Rat­soma, the deputy di­rec­tor-gen­eral for eco­nomic pol­icy at the Na­tional Trea­sury, in his ca­pac­ity as act­ing deputy di­rec­tor-gen­eral for In­ter­na­tional and Re­gional Eco­nomic Pol­icy, will con­tinue to serve as al­ter­nate di­rec­tor of the NDB for South Africa.

Gi­gaba stressed that the ap­point­ments are also in line with the prac­tice of the other found­ing mem­bers of the bank whose rep­re­sen­ta­tives are from their coun­tries’ min­istries of fi­nance and trea­sury de­part­ments.

Mo­ga­jane is fa­mil­iar with serv­ing on multi­na­tional in­sti­tu­tions. Be­tween 2007 and 2010 he rep­re­sented South Africa at the Ex­ec­u­tive Board of the World Bank as se­nior ad­viser for Africa Group 1 coun­tries.

 ?? PHOTO: BLOOMBERG ?? Nh­lanhla Nene, South Africa’s for­mer fi­nance min­is­ter, still has not been ap­pointed to the promised po­si­tion at the Brics’ NDB.
PHOTO: BLOOMBERG Nh­lanhla Nene, South Africa’s for­mer fi­nance min­is­ter, still has not been ap­pointed to the promised po­si­tion at the Brics’ NDB.

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