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Eight things you need to know about the Minister of Finance, Enoch Godongwana

The Minister of Finance, Enoch Godongwana. Picture: GCIS

The Minister of Finance, Enoch Godongwana. Picture: GCIS

Published Feb 23, 2022

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The Minister of Finance Enoch Godongwana is poised to give his first budget speech to the National Assembly today at 14:00. Here are ten things you need to know about the politician:

1. Godongwana studied Financial Economics at the University of London and graduated with an MSc degree from the prestigious institution in 1998.

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2. He has a history with trade unions. The minister once worked as the National Organiser for NUMSA in 1989 and became the union’s General Secretary after the 1994 election.

He also worked as the regional Secretary for the metalworkers’ organisation. Godongwana also served as on COSATU's Executive and Central Committees from 1992 to 1997.

3. In 1994, Godongwana became a member of the Provincial Legislature in the Eastern Cape government, a position he held until 2009.

4. He was the Deputy Minister of Public Enterprises under Jacob Zuma’s presidency from 2009 to 2010.

5. Godongwana held the position of Deputy Minister of Economic Development from 2010 to 2012.

6. He was appointed as finance minister on August 5, 2021, succeeding Tito Mboweni.

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7. On August 17, 2021, he was appointed as the governor of the New Development Bank. The bank has a board of five governors - each from the BRICS nations: Brazil, Russia, India, China, and South Africa.

8. He once chaired Canyon Springs, a company he jointly owned 50 percent of with his wife through a trust.

The company was accused of taking R120 million from the South African Clothing and Textile Workers’ Union (Sactwu) and loaning it to an investment by former Sactwu trade unionist Richard Kawie.

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