DailySun
President Cyril Ramaphosa is working to elevate his G20 presidency by forming a 19-member team of distinguished economic advisors.
The individuals selected for the Presidential Economic Advisory Council encompass a blend of business executives and academic specialists, specifically targeting strategies for employment-driven growth.
This initiative is particularly advantageous for a country facing the highest unemployment rate among G20 nations. Ramaphosa heads the council, with Dr Renosi Mokate acting as his deputy. Mokate has previously held key positions such as chairperson of the Government Employees’ Pension Fund and deputy governor of the Reserve Bank.
Ramaphosa has enlisted global thinkers. Prof Esther Duflo, a Nobel Prize recipient in 2019 (alongside Abhijit Banerjee and Michael Kremer), and Prof Mariana Mazzucato, recognized for her expertise in state-led innovation, are on this council. Mazzucato chairs the WHO Council on the Economics of Health for All, and her input regarding the contentious National Health Insurance initiative will be particularly valuable.
Dr Vera Songwe has previously served as the executive secretary of the UN Economic Commission for Africa, while Prof Dani Rodrik is sought after for his perspectives on industrial policies designed to enhance employment—though tangible results are yet to emerge, Ramaphosa and his Cabinet continue to support this strategy.
Dr Antonio Andreoni is anticipated to contribute crucial insights related to South Africa’s energy transition.
Kuben Naidoo, another former deputy governor of the Reserve Bank, has joined the Council, alongside chief economists Zeph Nhleko (Development Bank), Wandile Sihlobo (Agricultural Business Chamber and a specialist in land reform), and Isaah Mhlanga (RMB).
Mamokete Lijane, chairwoman of the influential Economic Research SA think tank, serves as a global markets strategist at Standard Bank, while Trudi Makhaya, who previously advised Ramaphosa on economic matters, returns in a new role.
Dr Kenneth Creamer remains a trusted consultant, along with Haroon Bhorat, Vusi Gumede, and Alan Hirsch, an expert in public administration. Highly regarded scholars Prof Fiona Tregenna, Prof Imraan Valodia, and Prof Ingrid Woolard contribute their significant expertise to address the country’s issues of inequality and structural unemployment.
Read more: After the Bell: The Presidential Economic Advisory Council is a good idea, but inadequate
The formation of this council is both inspiring and meaningful, but its effectiveness during South Africa’s G20 hosting year will depend on the execution of its recommendations.
Ramaphosa has introduced new members while keeping several from the previous council. DM
