Mo­ga­jane’s ap­point­ment as­sures con­ti­nu­ity

The Star Early Edition - - BUSINESS REPORT - Siseko Njobeni

DONDO Mo­ga­jane’s ap­point­ment as Na­tional Trea­sury di­rec­tor-gen­eral was a sign of in­sti­tu­tional sta­bil­ity at the Trea­sury and bodes well for lo­cal and in­ter­na­tional con­fi­dence in the coun­try, the Bank­ing As­so­ci­a­tion South Africa (Basa) said yes­ter­day.

Mo­ga­jane, a vet­eran civil ser­vant who has been with the Trea­sury since 1999, has been act­ing in the po­si­tion since the de­par­ture of for­mer di­rec­tor-gen­eral, Lungisa Fuzile, who re­signed shortly af­ter the ax­ing of for­mer Fi­nance Min­is­ter Pravin Gord­han and his deputy, Mce­bisi Jonas, in March.

“The ap­point­ment of Mr Mo­ga­jane is a step in the right di­rec­tion by the cab­i­net. He has al­most two decades of ex­pe­ri­ence at the Na­tional Trea­sury, and is a highly ca­pa­ble fi­nance pro­fes­sional. We re­gard his ap­point­ment as a har­bin­ger of the pol­icy con­ti­nu­ity promised by the Min­is­ter of Fi­nance,” Basa man­ag­ing di­rec­tor, Cas Coova­dia, said yes­ter­day.

Coova­dia said Mo­ga­jane rep­re­sented the Trea­sury in the CEO Ini­tia­tive, which was es­tab­lished in 2016 to avert a down­grade in the coun­try’s sov­er­eign credit rat­ing.

“This quick, de­ci­sive and pru­dent ap­point­ment will con­trib­ute to­wards lo­cal and in­ter­na­tional in­vestors look­ing favourably at South Africa. We look for­ward to work­ing with (Mo­ga­jane) in his new role, and the rest of the Na­tional Trea­sury team to place our econ­omy on an in­clu­sive growth path,” said Coova­dia.

Basa was among or­gan­i­sa­tions which voiced their dis­plea­sure with the March 31 cab­i­net changes, which in­cluded the re­moval of Gord­han and Jonas. At the time, the or­gan­i­sa­tion said Pres­i­dent Ja­cob Zuma’s ac­tions had put the coun­try into tur­moil and ques­tioned the mo­tives be­hind the changes.

Busi­ness Unity South Africa vice-pres­i­dent Martin Kingston said the ap­point­ment was a pos­i­tive de­vel­op­ment “and re­moves un­cer­tainty by en­dors­ing the ap­point­ment of a well-known and re­spected in­di­vid­ual to a crit­i­cal po­si­tion”.

He said Mo­ga­jane’s pri­or­ity should be to demon­strate con­ti­nu­ity with re­spect to pol­icy for­mu­la­tion and im­ple­men­ta­tion, in­clu­sive growth and the role of the state to main­tain a firm grip on bor­row­ings, the fis­cal sit­u­a­tion, im­prov­ing gov­er­nance and ac­count­abil­ity at state-owned com­pa­nies. He should also har­ness the in­volve­ment of busi­ness and other so­cial part­ners.

The Trea­sury yes­ter­day said that since join­ing the depart­ment, Mo­ga­jane had worked in var­i­ous ar­eas within the depart­ment, in­clud­ing among oth­ers, in­ter­gov­ern­men­tal re­la­tions, provin­cial bud­get anal­y­sis and in­ter­na­tional eco­nomic re­la­tions.

Be­tween 2007 and 2010, Mo­ga­jane rep­re­sented South Africa at the ex­ec­u­tive board of the World Bank as a se­nior ad­viser for Africa Group 1 coun­tries.

Be­tween 2010 and May 2014 Mo­ga­jane served as the chief of staff in the Min­istry of Fi­nance and later as the act­ing chief op­er­at­ing of­fi­cer from May 2014 un­til May 2015. He was later ap­pointed deputy di­rec­tor-gen­eral re­spon­si­ble for the pub­lic fi­nance divi­sion at the Na­tional Trea­sury.

PHOTO: TI­MOTHY BERNARD

Dondo Mo­ga­jane is the new DG at Trea­sury.

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