Nigeria’s Okonjo-Iweala to help South Africa battles recession

Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala has been appointed as a member of South Africa’s Presidential economic council as the country struggles with recession, a close aide to the two-time finance minister has disclosed that she is only a member of the council.

A tweet by Okonjo-Iweala, which was accompanied with a picture she took with South Africa’s President, Cyril Ramaphosa and members of the council, had led to the misconceptions that she might have been appointed to lead the presidential economic advisory council due to the recession South Africa is currently in.

Her tweet read, “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.”

But according to a close aide of the two-time finance minister, Okonjo-Iweala had been appointed as a member of the South Africa’s presidential economic advisory council. And the picture she tweeted was from the council’s second meeting on Friday in Tshwane, South Africa.

Okonjo-Iweala’s appointment was made possible because the council consist of local and international economic thought leaders. The group offer their counsel to President Ramaphosa on economic policies.

In a statement published on its website, the presidency stated, “The council will ensure greater coherence and consistency in the implementation of economic policy and ensure that government and society in general is better equipped to respond to changing economic circumstances”.

The council, which is made up of local and international economic thought leaders, is expected to “advise the president and government more broadly, facilitating the development and implementation of economic policies that spur inclusive growth.