Report has it the former minister of finance; Ngozi Okonjo-Iweala has been appointed the head of Economic Advisory Council in South Africa.
The appointment according to the said report (Yet to be confirmed), was made by the country’s President, Cyril Ramaphosa witnessed by many profiled officials.
However, recall that 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.