SA’s newest finance minister Enoch Godongwana has been appointed as one of the governors of the New Development Bank (NDB), the multilateral development financier set up by Brazil, Russia, India, China and SA.
The lender, which was previously referred to as the Brics bank, said Godongwana’s appointment was effective from August 17, 2021, according to a statement posted on the JSE's stock exchange news service on Friday. The statement also announced the appointments of four other directors representing the finance ministries of China, India and Russia.
Godongwana, who previously served as the head of the ANC’s economic transformation committee, was appointed finance minister in August when President Cyril Ramaphosa reshuffled his cabinet. He has since come out strongly in favour of jobs and employment, telling an investment summit on Thursday that his overriding aim will be to make practical economic reforms that will enable investment, particularly by local firms.
The NDB has five governors, one each from its five member countries. That means Godongwana will serve alongside Paulo Guedes, Brazil’s economy minister; Anton Siluanov, Russia’s minister of finance; Nirmala Sitharaman, India’s minister of finance; and China’s minister of finance Liu Kun.
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