The Presidency has officially confirmed that Electricity Minister Kgosientsho Ramokgopa will be temporarily assuming the role of the country’s finance minister, filling in for Enoch Godongwana.
This decision comes after reports emerged that Godongwana had been admitted to the hospital due to a serious illness. Vincent Magwenya, spokesperson for the Presidency, confirmed Ramokgopa’s appointment as acting finance minister.
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Godongwana’s illness comes shortly after he delivered the Mid-Term Budget Policy Statement (MTBPS), which was well-received for its sensible and well-balanced approach. However, there were concerns about the need for the government to utilize a revenue overrun to narrow the deficit and address existing and emerging risks.
In his statement, Godongwana highlighted the intention to allocate a portion of the higher-than-anticipated revenue of R83.5 billion towards reducing the deficit in the current financial year and over the Medium-Term Expenditure Framework (MTEF).
Additionally, the funds would be directed towards infrastructure projects, critical public services such as education, health, and policing, and addressing fiscal risks that were previously identified in February.
These risks include higher-than-projected debt service costs, the public service wage bill, and potential financial risks from state-owned companies.
For Ramokgopa, this appointment as acting finance minister represents a step up in his career. Just last week, he expressed his frustration to the African National Congress’ (ANC) leadership about his limited powers.
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During a meeting with the ANC’s national working committee (NWC), Ramokgopa voiced his concerns about the challenges he faced in addressing the ongoing energy crisis. The electricity minister has been working tirelessly to resolve the crippling power cuts, regularly providing updates and assurances to the South African public.
However, his efforts have faced scrutiny, as evidenced by a recent session of Parliament’s Standing Committee on Public Accounts (Scopa). Members of the committee questioned the scope of Ramokgopa’s powers and his level of influence over the operations of Eskom.
During the session, Ramokgopa expressed his frustration with the bureaucratic obstacles hindering his ability to fulfill his duties. He highlighted his lack of insight into the Eskom board, further complicating his efforts to tackle the energy crisis effectively.
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As Ramokgopa assumes the role of acting finance minister, he faces an uphill battle in addressing both the energy crisis and the broader economic challenges facing South Africa. His temporary appointment provides an opportunity for him to demonstrate his capabilities and potentially influence policy decisions that will shape the country’s financial landscape.
However, it is important to note that Ramokgopa’s tenure as acting finance minister is contingent upon Godongwana’s recovery. The nation will eagerly await updates on Godongwana’s health and the subsequent implications for the finance ministry.
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