Cape Town - Former South African Chamber of Commerce boss Kevin Wakeford has been appointed as the new CEO of state arms procurement company Armscor, Minister in the Presidency Jeff Radebe said on Friday.
The appointment was confirmed by Cabinet at its fortnightly meeting on Wednesday.
Wakeford endured criticism in the early 2000s for suggesting that currency trading by South African companies had led to the rapid depreciation of the rand.
His analysis helped prompt the government to set up the Myburgh Commission to probe the reasons into why the Rand plummeted.
ANA