President Cyril Ramaphosa is focused on strengthening his G20 presidency by forming a 19-member team of distinguished economic advisors.
The selected individuals for the Presidential Economic Advisory Council include a diverse group of business leaders and academic specialists, prioritizing strategies aimed at employment-driven growth.
This initiative comes at a crucial time for a country facing the highest unemployment rates within the G20. Ramaphosa leads the council, with Dr. Renosi Mokate as his deputy. Mokate has an impressive background, having served as chairperson of the Government Employees’ Pension Fund and deputy governor of the Reserve Bank.
Ramaphosa has also solicited the expertise of global thought leaders. Prof. Esther Duflo, a 2019 Nobel Prize laureate (together with Abhijit Banerjee and Michael Kremer), and Prof. Mariana Mazzucato, known for her views on state-driven innovation, are key members of this council. Mazzucato chairs the WHO Council on the Economics of Health for All, and her insights on the debated National Health Insurance initiative will be invaluable.
Dr. Vera Songwe has previously acted as the executive secretary of the UN Economic Commission for Africa, while Prof. Dani Rodrik is recognized for his thoughts on industrial policies designed to enhance employment, a method that remains supported by Ramaphosa and his Cabinet despite limited advancement.
Dr. Antonio Andreoni is anticipated to share critical perspectives on South Africa’s ongoing transition in energy.
Kuben Naidoo, another former deputy governor of the Reserve Bank, is included in 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, chair of the influential Economic Research SA think tank, is also a global markets strategist at Standard Bank, while Trudi Makhaya returns in a new role after serving as Ramaphosa’s economic advisor.
Dr. Kenneth Creamer continues as a trusted advisor along with Haroon Bhorat, Vusi Gumede, and Alan Hirsch, who focuses on public administration. Prominent academics Prof. Fiona Tregenna, Prof. Imraan Valodia, and Prof. Ingrid Woolard are all addressing South Africa’s pressing 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 promising and critical, but its impact during South Africa’s presidency of the G20 will rely on the execution of its recommendations.
Ramaphosa has appointed new members while keeping several from the previous council. DM
