National Treasury DG's contract extended

Friday, April 29, 2016

Pretoria - Finance Minister Pravin Gordhan has welcomed the extension of National Treasury Director General Lungisa Fuzile’s contract.

“I am pleased to announce that Cabinet, at its meeting on 26 April 2016, approved the extension of the contract of Mr Fuzile, Director General of the National Treasury, for a further two years until May 2018,” said Minister Gordhan on Friday.

Fuzile’s current contract is to expire next month.

Minister Gordhan said South Africa is privileged to have the talents and firm commitment of Fuzile available to lead National Treasury, which is a vital institution within a democratic state.

“His unquestionable integrity and adherence to the core values of our Constitution make him an exemplary leader in the public service. Since his appointment to the position in April 2011, Mr Fuzile has contributed to strengthening the reputation of the National Treasury as a stable institution with a depth of experience in its ranks. He has had to lead Treasury at a difficult time, following a period of a recession and low growth after the 2008 global financial crisis,” said the Minister.

Fuzile has led the team that has advised government on the difficult choices that are necessary to maintain South Africa’s fiscal sovereignty. He has also been instrumental in establishing a budget planning approach that links expenditure to the objectives of the National Development Plan and advancing policies that are aimed at lifting the levels of economic growth.

“During his time, key development finance institutions such as the Development Bank of Southern Africa and the Land Bank have been successfully turned around.

“Under his leadership, improvements to financial management have been put into place, including the establishment of the Office of the Chief Procurement Office, to modernise procurement and ensure better value for money for government,” said Minister Gordhan.

Fuzile joined National Treasury in February 1998 as a Deputy Director in the Intergovernmental Relations Division and rose through the ranks to become the head of the division.

Before being appointed as Director General, he was the Head of Asset and Liability Management. Before joining Treasury, he worked as a statistician, university lecturer and teacher.

“We wish Mr Fuzile well in his next term and the entire team at the Treasury and the wider finance family- indeed the public at large- appreciates the sacrifice that his family makes to enable him to continue to serve SA,” said Minister Gordhan. – SAnews.gov.za