Gigaba announces new Treasury acting director general

Finance minister Malusi Gigaba has announced that Dondo Mogajane has been appointed as the acting Director-General of the National treasury, following the sudden resignation of Lungisa Fuzile.

In a press release published by the Ministry of Finance, Gigaba thanked Fuzile for his service and welcomed Mogajane to the new role.

According to the release, Mogajane joined the Treasury in 1999 after which he worked in a number of areas including inter-governmental relations, provincial budget analysis and has represented South Africa on the World Bank’s forum.

Fuzile officially tendered his resignation in April of this year, days after President Jacob Zuma’s cabinet reshuffle and the firing of ex-Finance Minister Pravin Gordhan.

Earlier reports by analysts indicated that his resignation could lead to another major knock to the the country’s already struggling economy warned, as international investors desperately try and find continuity in the market and good governance at key state institutions.

There are also concerns that Fuzile’s departure could lead to a mass exodus of staff from Treasury as those loyal to Gordhan leave, taking invaluable skills with them and further destabilisng the hand-over of Treasury to incoming minister Malusi Gigaba.

Mogajane will take up office on 16 May 2017, and will remain as the acting head of Treasury until the process of appointing a new Director General is complete.

Read: Head of Treasury Fuzile confirms he has resigned

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Gigaba announces new Treasury acting director general