Steadying the ship of finance
Mogajane's appointment undoes some damage Gigaba has done
The appointment of Dondo Mogajane may restore some of the lost confidence in national treasury
Finance minister Malusi Gigaba’s name has been in the headlines a lot lately, and mostly for the wrong reasons. The revelation that he appears to have facilitated the Guptas’ state capture project overshadowed news last week that he had appointed experienced treasury technocrat, Dondo Mogajane, as his director-general (DG). The appointment was welcomed by the financial community and treasury staff because of the continuity and stability it brings to the institution. Treasury has found itself at the heart of the state capture narrative over the past two years and the weakening of the institution has contributed to the spate of recent downgrades to SA’s credit rating. There had been fears that Gigaba would make a politically motivated appointment, so it surprised many when he appointed treasury veteran Mogajane, who served as former finance minister Pravin Gordhan’s chief of staff for four years and was also the chief operating officer under former finance minister Nhlanhla Nene. Moga...