Okonjo-Iweala appointed member NOT head of SA’s economic council

Ngozi Okonjo-Iweala, two-time Nigerian minister, has been appointed as a member South Africa’s presidential economic advisory council.

Clarification sought by TheCable from close parties to the economist revealed that she is a member of the council, not the head as being reported on social media.

The council is chaired by Cyril Ramaphosa, the South African president.

Pictures shared on Twitter by the official handle of South Africa’s presidency and Okonjo-Iweala showed the latter in a meeting with local authorities.

The pictures were captioned: “With President Ramaphosa, members of cabinet, and members of the Presidential Economic Advisory Council in Pretoria discussing sources of growth for the South African economy and win-win economic interactions with the continent.”

Ramaphosa appointed the council on September 27, 2019.

In a statement published on its website, the presidency said the council will “ensure greater coherence and consistency in the implementation of economic policy and ensure that government and society in general is better equipped to respond to changing economic circumstances”.

The council, which is made up of local and international economic thought leaders, is expected to “advise the president and government more broadly, facilitating the development and implementation of economic policies that spur inclusive growth.

“The council is a non-statutory and independent body chaired by the president and brings together prominent economists and technical experts drawn from academia, the private sector, labour, community, think tanks and other constituencies. The members, who will volunteer their time and be compensated for subsistence and travel, are appointed to serve a three-year term.”

The council held its second meeting on Friday in Tshwane.

South Africa’s economy is currently in a recession; its second in two years.