BRICS cooperation
BRICS cooperation

South Africa’s national treasury on Tuesday appointed head of the New Development Bank (NDB) for the African Regional Center.

The deputy director general of Treasury’s economic policy department, Monale Ratsoma, will take over as the head of the bank with effect from April 16.

Ratsoma will manage the bank’s African regional operations and lead the bank’s African efforts in project preparation, implementation and regional portfolio management,” the Treasury said Tuesday.
Ratsoma joined Treasury in 2011 as chief director of liability management. He was appointed deputy director general of economic policy in 2015.

Duncan Pieterse will act as deputy director general of economic policy until the position is filled. Pieterse is the chief director of microeconomic policy at South Africa’s treasury.

Last year, former president Jacob Zuma opened the African Regional Center in Johannesburg. The bank is expected to provide resources to drive infrastructure development by accelerating investment in energy and transport sector.

Treasury’s Director General Dondo Mogajane has given his support for Ratsoma. Stating that Treasury will give him the support he needs to achieve the bank’s vision.

This comes after the expiration of Tito Mboweni’s term as Director of the NDB in July. Enditem

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