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Ngozi denies being appointed the head of South Africa’s Economic Advisory Council

March 9th, 2020 African News, Business, News, Nigerian, Politics, World comments

Ngozi denies being appointed the head of South Africa’s Economic Advisory Council

NIGERIA’S former finance minister Dr Ngozi Okonjo-Iweala has denied being appointed as the head of the South Africa Economic Advisory Council saying that President Cyril Ramaphosa only invited her to become a member.

 

South Africa is currently going through a bitter recession as the global price of diamonds, one of its key exports has collapsed due to excessive supply. Also, back in 2002, South Africa held about 50% of the world’s gold resources and 38% of reserves but today, the industry is in a terrible state as 75% of South Africa’s mines are now unprofitable due to decline in gold reserves.

 

Faced with such challenges, President Ramaphosa has appointed Dr Okonjo-Iweala as a member of his economic team in a bid to turn things around. Over the weekend, it was reported that Dr Okonjo-Iweala, a former World Bank vice president was heading the team but she has made it clear that is a misrepresentation.

 

On Friday, Dr Okonjo-Iweala attended the council’s meeting in Tshwane, the northern metropolitan Gauteng Province of Pretoria, where she met with other members. Paul Nwabuikwu, Dr Okonjo-Iweala’s spokesman, noted that be former minister was appointed a member of the council and not its head.

 

Mr Nwabuikwu said: “Dr Ngozi Okonjo-Iweala is a member, not the head, of the international team of policy and business experts that make up the South Africa Economic Advisory Council.”

 

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