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Ramaphosa appoints cracker economic growth team ahead of G20 presidency

The 19-member squad shows the direction of travel for President Ramaphosa’s growth and employment agenda.
Ramaphosa appoints cracker economic growth team ahead of G20 presidency

President Cyril Ramaphosa will bolster the potential of his G20 presidency with a 19-member team of top economic advisers.

Appointed to his Presidential Economic Advisory Council, the 19 members, drawn from business and the global academies, show a bias towards employment-linked growth strategies.















This is a good thing in a country with the highest unemployment rate in the G20. Ramaphosa chairs the council, with Dr Renosi Mokate as his deputy. Mokate has previously held the roles of chairperson of the Government Employees' Pension Fund and deputy Reserve Bank governor, among many other leading roles.

Ramaphosa has looked around the world for leading thinkers. Prof Esther Duflo won the 2019 Nobel Prize (with Abhijit Banerjee and Michael Kremer), and Prof Mariana Mazzucato is an exciting thinker on innovation in the state as a driver of growth. She also chairs the WHO Council on the Economics of Health for All – her advice on what SA does with the contested National Health Insurance initiative will be seriously taken on board.

Dr Vera Songwe is a former UN Under Secretary-General and executive secretary of the UN Economic Commission for Africa. Prof Dani Rodrik is an SA favourite for his work on industrial policy-driven growth as a vector for better employment. (It has yet to work, but Ramaphosa and his Cabinet remain adherents to the model.)

Dr Antonio Andreoni will be an excellent sounding board on the headway South Africa is finally making towards energy transition.

Another former Reserve Bank deputy governor, Kuben Naidoo, has been drafted on to the Council, as have chief economists Zeph Nhleko (Development Bank), Wandile Sihlobo (Agricultural Business Chamber and a leading thinker on land reform) and Isaah Mhlanga (RMB).

Mamokete Lijane, who chairs the influential Economic Research SA think-tank, is also a global markets strategist at Standard Bank. Trudi Makhaya, who was Ramaphosa’s economic adviser, is back in a different role.

Dr Kenneth Creamer is a trusted government adviser, as are Haroon Bhorat, Vusi Gumede and Alan Hirsch (with a welcome specialisation in public administration). Prof Fiona Tregenna, Prof Imraan Valodia, and Prof Ingrid Woolard are all well-known experts in addressing the country’s dilemmas with inequality and structural unemployment.

Read more: After the Bell: The Presidential Economic Advisory Council is a good idea, but inadequate

It’s an exciting and significant council, but its impact, especially in South Africa’s year to host the G20, will depend on whether its advice is taken seriously and implemented.

Ramaphosa has added new members and retained many existing ones from a previous council. DM

Comments

Richard Bryant Dec 3, 2024, 06:02 AM

What about Ann Bernstein? This group urgently needs to lose the ANC war of attrition against private enterprise and find ways to minimise the state and red tape in development.

Kevin Venter Dec 3, 2024, 06:09 AM

Such a cracker team, which is in stark contrast to his selection of such a cracker cadre as the minister of Justice. Her house must be special, money seems to flow out of its taps, all the while the majority of South Africans cannot even afford to feed themselves let alone pay for electricity.

Scotty84 Dec 3, 2024, 10:32 PM

Spot on !

mbulelo.journey Dec 3, 2024, 06:19 AM

Very academic heavy, less of that and more entrepreneurs, business people, and people with experience getting things done at local government, national government, and SOEs would have been useful.

Jane Crankshaw Dec 3, 2024, 07:07 AM

I agree with this statement, more entrepreneurs and business leaders would be good- on the other hand, it’s also nice to see some white faces in the team for a change!

Stu McCro Dec 3, 2024, 08:23 AM

Chip. Shoulder. Go look at the other advisory councils... like the one on land reform...

nigelku Dec 3, 2024, 07:14 AM

First thing I thought as well. Great point.

Glyn Morgan Dec 3, 2024, 08:27 AM

My thoughts exactly.

Interested Observer Dec 3, 2024, 08:55 AM

My thoughts exactly! More practitioners less academics needed. Especially if you want to get things done.

Interested Observer Dec 3, 2024, 09:00 AM

It looks like Jaw, Jaw, Jaw and not War,War, War (against poverty and corruption). Another opportunity missed Mr President.

Mike Pragmatist Dec 3, 2024, 05:43 PM

Very good point

langeraa Dec 3, 2024, 07:11 AM

I didn't know we had Crackers in SA. I wonder when the rednecks come out of the woods. Maybe this is all to please Trump.

Kevin Venter Dec 3, 2024, 07:42 AM

We have salticrax. Those are pretty cook crackers, but a bit salty. We also have cream-crackers, I personally don't like those too much. Then we have this economic-growth cracker which at least seems significantly better than the vrot-crackers in parliament.

T'Plana Hath Dec 3, 2024, 12:10 PM

Salticrax have to be the worst-named crackers of the lot. Makes me think of plumbers.

Mike Pragmatist Dec 3, 2024, 05:44 PM

No, those are plumbercrax

ath Dec 3, 2024, 05:25 PM

Mr Trump to the likes of you. Suck it up. He won!

Allistair Green Dec 3, 2024, 08:11 AM

It would have been good to see a representative from the Eastern Hemisphere.

Stu McCro Dec 3, 2024, 08:25 AM

Good point. Although I reckon there are behind the scenes advisors from the east.

michele35 Dec 3, 2024, 08:16 AM

How many of the crackers have actually successfully run a business? Stacked with many erudite paper tigers but exceptionally thin on practical experience. One would have expected the likes of Coovadia, Mavuso, Mohale, Gore, Bernstein and the like to have made the grade but alas not. Time will tell

Willem Boshoff Dec 3, 2024, 10:14 AM

(Some) academics and (most) politicians tend to think saying the right stuff is more important than getting the job done. Don't want any pesky pragmatists to mess with the good story.

Mike Pragmatist Dec 3, 2024, 05:46 PM

Well said. The story is everything

Rod MacLeod Dec 4, 2024, 10:48 AM

This is true. As my mentor once told me - those who can, do and those who can't, teach. And therein lies your fundamental lesson on pragmatism and can-do economic reality.

Lawrence Sisitka Dec 3, 2024, 08:50 AM

Some seriously good anti-capitalists among the group. Aiming for a people-centred economy maybe. A brave move and power to them!

Rod MacLeod Dec 4, 2024, 10:53 AM

Well, you have no idea of the importance of having capital accumulation as a means of wealth growth. Without it, you will live like your comrades - hand to mouth, forever resorting to the begging bowl in times of scarcity. Learn from the disastrous Soviet era "people-centred" economic planning.

Stephen la Grange Dec 3, 2024, 08:57 AM

Why am I not optimistic given the rapid collapse bar the Cape, under his watch?

comynguy Dec 3, 2024, 08:58 AM

Illustrious it maybe but it does seem to lack depth of practical experience in running an economy. Theories are nebulous at best, on hands driving a sustainable growing economy requires depth of experience couple with knowledge. One without the other is pointless.

batting 101 Captain Dec 3, 2024, 09:25 AM

Who is going to implement your wishy washing agenda that these extremely highly qualified Buffon's come up with??? This circus act has no potential , stop lying to the Nation and the world. Please fix the long drop toilets at schools in the rural areas??? Oh sorry no qualified plumber in the team.

Andre van der Walt Dec 3, 2024, 09:34 AM

One Whitey Basson was all that he needed, not 20 or so Economic professors.

Willem Boshoff Dec 3, 2024, 10:16 AM

Yup our most successful business people are conspicuously absent. Would be interesting to know how many of them were invited and declined - are they absent be design or choice?

Andrew Blaine Dec 3, 2024, 09:36 AM

Unfortunately we have again a committee of academia! Is it not time that some business leaders are encouraged to give of their expertise? "Them as can DO, them as cant TEACH!"

David Coutts-Trotter Dec 3, 2024, 10:24 AM

More red tape and barriers to business. More labour law, less jobs. (Very clever) people with leftist woke agendas (DEI 1st) , "development/transformation/redistribution" economics. No entrepreneurs, real leaders, actual experience. ANC will thieve and pillage and screw up the policy making.

Tom Hofmeyr Dec 3, 2024, 10:46 AM

Impressive academic spectrum. Unfortunately no operational expertise to oversee implementation - our biggest disease. From the photo it seems Prof Imraan Valodia has already fallen asleep - is that a sign?

Chris van Melle Kamp Dec 3, 2024, 11:15 AM

One of the biggest constraints on growth is the diminishing supply of natural capital and the loss of biodiversity. There can be no economic growth in a fast deteriorating natural environment. No specialist on this team that advises on the interface between the economy, society and nature.

Sheila Vrahimis Dec 3, 2024, 05:17 PM

hear hear

Pieter van de Venter Dec 3, 2024, 11:19 AM

Did the presidency checked all the titles - even the Ms, as well as Doctor and Professor? We are not going to be caught out with red faces with these crowd?

Fernando Moreira Dec 3, 2024, 11:31 AM

Johan Rupert , Adrian Gore , Sam Thsabala , Ann Bernstein , Prof Van den Heever , Neil Froneman , Willem Gumede , Matthew Parks , Busiswe Mavuso , Dr Belinda Gray , Hendrik Du Toit ,Dawie Roodt ,Lesatja Kganyago ,Edward Kieswetter , Brian Kantor , Claire Beisekker might be better candidates

Derek Taylor Dec 3, 2024, 03:28 PM

Agree 100%

Rob Wilson Dec 3, 2024, 04:11 PM

Couldn't agree more.

Malcolm Dunkeld Dec 3, 2024, 11:51 AM

Every time I see that word "professor", a cold shiver runs down my spine. Hope those who actually have business experience will be listened to for once.

Fanie Rajesh Ngabiso Dec 3, 2024, 07:19 PM

Let's hope it doesn't prove the old adage "Those who can't, teach."

Ian HUNTLY Dec 3, 2024, 12:43 PM

Way too many academics and not enough people witha proven track record of having done useful things. I hope we do not become another lab experiement in social engineering!

Just Another Day Dec 3, 2024, 04:30 PM

Correct

Just Another Day Dec 3, 2024, 04:28 PM

In another headline today - "South Africa’s economy shrinks by 0.3% in the third quarter". I just hope this cracker team can talk truth to power. You cannot grow an economy by relying on black at all cost, sidelining the entrepreneurs and the disablement from broken SOE's and municipalities.

Sydney Kaye Dec 3, 2024, 04:31 PM

Even good advice is only useful if it is implimented. And any policy suggestions which emerge will have to get pasf the ANC NEC, who will not approve anything that impinges on over inflation Labour increases, perks and opportunity for corruption for Cardre Inc.,or Marxist ideology.

Mike Schroeder Dec 3, 2024, 04:54 PM

So what type of "crackers" are these? X-Mas crackers? Birthday crackers? Do they "pop" if you pull hard on both ends? It would make a lot more sense to get people that actually run businesses to advise our gutterment!

Ritchie Morris Dec 3, 2024, 04:59 PM

One cannot have a healthy society unless there is a healthy environment. Everything - especially proper economic growth, is related to the environment. I agree with the sentiments around needing 'doer's' - people that make things happen. Too much academia may lead to red tape and paralysis.

Mike Pragmatist Dec 3, 2024, 05:41 PM

The thing with crackers is they have a nasty habit of going "BANG"

Carl Brown Dec 4, 2024, 10:31 AM

A whole lot of academics, and few actual businesspeople. I guess all the academics are not of the Austrian school, and consider Javier Milei to be a madman... Unproductive government departments, "Afuera!" Quantitative easing, "Afuera!"

A Rosebank Ratepayer Dec 4, 2024, 10:37 AM

How can DM sub editor choose by-line saying this is a cracker team? If you want grow the economy and create jobs choose people who have actually done this themselves - not academics. Some of these “experts” have been on CR’s panel since he began - eg Prof MM - what difference has this made?

Rod MacLeod Dec 4, 2024, 02:42 PM

You need to contextualise the "cracker" by-line in terms of Ferial's semi-sycophantic admiration for the Sofa Squirrel.

anonkwelo Dec 4, 2024, 12:01 PM

"Cracker Team" ????? i see a group of Theorists and idols of Ramaphosa here!

ONGOPOTSE Dec 4, 2024, 12:30 PM

The photo of Zeph Nhleko is incorrect. its the photo of Zwelibanzi Sapula (CEO of SADC-DFRC), former Head of Programme Dev at DBSA.

Alastair Sellick Dec 4, 2024, 06:52 PM

Congratulations to the appointees - South Africa thanks you for your service.

Maria Janse van Rensburg Dec 5, 2024, 06:26 AM

It's probably best to give these advisors a chance to prove themselves before shooting them down. They accepted being part of this important advisory group. Business leaders can still be co-opted. Capitalism must change to serve the new economic realities. Research provides the springboard.

mfsw Dec 5, 2024, 07:21 AM

The importance of capital in an economy is a fact so capitalism cannot change, what must change is how that capital is raised and applied ie by way of private participation and accountability or by way of taxes funding 700 loss making SOE's in South Africa and no accountability.

Barann Dec 5, 2024, 01:58 PM

Wonder if they're all flying in SA on private jets with an entourage of hangers-on , driving high end cars and then discussing how to take away our vehicles and get us to eat bugs whilst dining on lobster and steaks and drinking copious glasses of champagne....all in the name of climate change

researchproject.mailb Dec 6, 2024, 11:50 PM

In my opinion, a Malthusian/Ricardian 'dismal science' paradigm of 'decreasing returns' holds less and less explanatory power. There seems to be a lack of academic focus on the paradigm of 'increasing returns'. Path dependencies in econ theory and thinking creates 'lock in'. Millions suffer.

hfcools Dec 16, 2024, 03:45 PM

none of these people ever made any money or employed anybody get a business man in there and he will tell what you do not want to hear! SA is a horse that can win the triple crown! If you put the right jockey on top. And yes the whip will be us