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....

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