By Musa Sunusi Ahmad
President Cyril Ramaphosa of South Africa has appointed Nigeria’s former Minister of Finance, Ngozi Okonjo-Iweala, as the Head of South Africa’s Presidential Economic Advisory Council.
With this pan-African appointment, Okonjo-Iweala would be saddled with the onerous task of lifting South African economy from her current recession.
South African economy was said to have gone back into recession with the release of the Q4 2019 GDP data. It was reported that economy shrank by -1.4 per cent in the final quarter of 2019, compared with a decline of -0.6 per cent in Q3 2019.
The report added that in 2019, South African economy grew by a mere 0.2 per cent, losing 108,000 jobs.
Okonjo-Iweala shared the moments with the South Africa’s President and other members of the Presidential Economic Advisory Council shortly after the council’s maiden meeting.
“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,” she wrote.