New finance ministry DG Dondo Mogajane is the right man for the job - economist

Dondo Mogajane has been formally appointed as the new director general of the National Treasury.

He takes over from Lungisa Fuzile who resigned after the reshuffle that saw Malusi Gigaba taking over as finance minister from Pravin Gordhan.

READ: Gigaba's pick for Treasury DG first big test as Finance Minister'

Mogajane was the acting director general and has been with the department since 1999.

Stephen Grootes spoke to economist Peter Attard Montalto about the appointment.

The most interesting thing here is that he was previously very powerful politically in the Treasury. I think that political connectivity is going to be very important for the job.

Peter Attard Montalto , economist for emerging markets at Nomura

He is also viewed as a fiscal conservative, a status quo guy in terms of treasury policy and really the best possible candidate to appoint in terms of trying to shore up National Treasury as an institution.

Peter Attard Montalto , economist for emerging markets at Nomura

We should be careful to say this is maximising the chances of protecting Treasury, as opposed to calling any sort of victory yet. The forces of capture are still out there. Potentially it is going to be his job to hold the line. I am sure he will have red lines about what he is asked to get up to...

Peter Attard Montalto , economist for emerging markets at Nomura

I think the minister has done the right thing in appointing Dondo. Basically, I think after the reshuffle the sort of operating mode has been for Gigaba not to shoot himself in the foot...

Peter Attard Montalto , economist for emerging markets at Nomura

Click on the link below to listen to the full audio....


This article first appeared on 702 : New finance ministry DG Dondo Mogajane is the right man for the job - economist


Recommended

by NEWSROOM AI
Read More
Wits Nehawu members down tools over salaries

Wits Nehawu members down tools over salaries

Nehawu Wits acting secretary Tumisho Madihlaba says negotiations with management deadlocked resulting in a strike.

New Energy Minister to probe unauthorised sale of strategic fuel stock

New Energy Minister to probe unauthorised sale of strategic fuel stock

Minister Mmamoloko Kubayi spoke about the sale of SA's strategic fuel stock without the sign off from National Treasury, and more.

Cash strapped SAA has funds locked up in other African countries

Cash strapped SAA has funds locked up in other African countries

Deputy finance minister Sfiso Buthelezi told Parliament that SAA and Treasury are working on getting the estimated R1 billion back.

May the Fourth be with you, a celebration of Star Wars Day

May the Fourth be with you, a celebration of Star Wars Day

May 4 marks "May the Fourth be with you," Day celebrated by fans George Lucas' fans of his Star Wars global movie franchise.

'Gigaba's pick for Treasury DG first big test as Finance Minister'

'Gigaba's pick for Treasury DG first big test as Finance Minister'

Business Day's Carol Paton argues Malusi Gigaba will face 10 tests which may help SA and global markets determine where he stands.

Treasury DG Lungisa Fuzile explains (on The Money Show) why he quit

Treasury DG Lungisa Fuzile explains (on The Money Show) why he quit

He had been seen as crucial to maintaining stability at the Treasury after Gigaba replaced Gordhan as minister.

Popular articles
Wife of Nathan Ganas speaks out over Momentum's refusal to pay up

Wife of Nathan Ganas speaks out over Momentum's refusal to pay up

Momentum has refused to pay a R2.4 million policy payout citing a non-disclosure breach

School fees for 2019 higher than inflation rate

School fees for 2019 higher than inflation rate

Bad news for parents as school fees for 2019 are set to increase way above inflation.

6 dumbest things people in their 20s do with money

6 dumbest things people in their 20s do with money

Sam Beckbessinger, the author of “Manage Your Money like a F*cking Grownup,” has some tips, so you don’t have to live with regret.

VW vehicle nightmare to cost customer R23 000  after third engine fails

VW vehicle nightmare to cost customer R23 000 after third engine fails

A brand new Touran that's had three new engines since 2012 is about to cost the customer R23 000 for a fourth engine.

2 tips to avoid going shopping crazy on Black Friday

2 tips to avoid going shopping crazy on Black Friday

Debt Rescue CEO advises how people should manage their finances during Black Friday and avoid spending on unnecessary things.