JOHANNESBURG - One of the big questions for the new cabinet of President Cyril Ramaphosa is the position of the Minister of Finance.
Current Finance Minister Tito Mboweni is without doubt a sure choice, and with his decade of experience as the SA Reserve Bank (Sarb’s) governor from 1999 to 2009, with his implementation of a strict, but successful monetary policy. During those years between 1997 and 2006, the average growth in the gross domestic product (GDP) was more than 4 percent and government debt to GDP remained under 40 percent.
Mboweni has demonstrated his calibre and can play a key role in the implementing of the President's six-point economic recovering plan. But should the President decide to replace him, he should look no further than the Sarb’s Lesetja Kganyago to ensure a new era of compliance, confidence and performance at the Treasury.
Kganyago has international recognition and received the 2018 Governor of the Year award at the 5th annual Central Banking Awards ceremony. He was also elected as the chairmaperson of the International Monetary and Financial Committee (IMFC), the policy advisory committee of the Board of Governors of the International Monetary Fund for a term of three years, effective 18 January 18, 2018.