S’African President Appoints Okonjo-Iweala as Member Economic Advisory Council

By Olubiyi Sosanya

South African President, Cyril Ramaphosa, has appointed Nigerian born Dr. Ngozi Okonjo-Iweala as member of the country’s Economic Advisory Council.

South Africa entered its second recession in two years in the final quarter of last year as agriculture, transport and construction contracted, data showed on Tuesday, highlighting the impact of power cuts on the nation’s economy.

Statistics South Africa said the economy shrank 1.4 per cent in the fourth quarter, following a revised 0.8 per cent contraction in the third quarter. Agriculture declined 7.6 per cent, transport 7.2 per cent, construction 5.9 per cent, electricity 4 per cent and retail 3.8 per cent, the data showed.

Earlier, Okonjo-Iweala shared on her Twitter handle that she met with the President and his cabinet.

She said: “With President Ramaphosa, members of cabinet, and members of the Presidential Economic Advisory Council in Pretoria discussing sources of growth for the South African economy and win-win economic interactions with the continent.”