Gigaba wants someone with a 'cool head' for Treasury DG

Cape Town – Finance Minister Malusi Gigaba told local investors in Cape Town on Thursday that he would want to see “continuity” at National Treasury when filling the position of director general. 

“We want management continuity at National Treasury. It is a strong, professional and stable institution, and we want to keep it that way,” Gigaba said. 

READ: EXCLUSIVE INTERVIEW: Treasury boss Lungisa Fuzile confirms he has resigned

Lungisa Fuzile, the outgoing director general, is leaving National Treasury in mid-May and his position will be advertised in newspapers this coming weekend, Gigaba told journalists on the sidelines of the briefing. 

Asked whether he has someone specific in mind, Gigaba said no, but that there are strong and capable people within National Treasury and outside who would be able to continue Fuzile’s good work. 

“There’s no name I have in my head. But we’ll look at extensive skills within the Department, as there are many deputy directors general who worked there for long. 

“We’ll also look at other suitable candidates – someone credible in the line of Lungisa Fuzile, and the current Reserve Bank governor Lesetja Kganyago, or Maria Ramos (CEO at Barclays Africa). 

“We need to get people with the same stature to manage an institution, such as National Treasury – someone who has the right mental and intellectual and moral rectitude to withstand the pressures coming with this job. Someone with a cool head at all times who will take the right decision and support me as minister,” Gigaba said. 

In a media statement, issued after his engagement with investors on Thursday, Gigaba said he and his deputy Sfiso Buthelezi are “happy with the skilled and experienced team” they’ve found at National Treasury. 

“We trust they will remain, as patriotic civil servants who are appointed permanently or on long term contracts, and do not come and go when political principals change.” 

READ: Lungisa Fuzile's departure from Treasury a 'radical blow'

Gigaba said Fuzile had given former finance minister Pravin Gordhan notice of his intention to resign shortly before his (Gigaba’s) appointment. “Although we prefer that he stays on, we respect his desire to call time after a period of distinguished service at the helm of Treasury. In the interest of stability we seek to confirm his replacement as quickly as possible.”

Gigaba said he hopes to have a replacement for Fuzile by the end of May.  

“Without prejudicing the prescribed process which must unfold, Treasury has a proud tradition of capable leaders emerging from within, so I’m sure several of the talented and experienced managers here will apply and be considered.” 

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