Enoch Godongwana appointed governor of New Development Bank
South African Finance Minister Enoch Godongwana has been appointed a governor of the New Development Bank.
The bank on Friday issued a notice on the stock exchange news service, providing an update on its new directors.
Godongwana's appointment has been effective from 17 August 2021, according to the notice.
Just two weeks prior, he was appointed finance minister of South Africa, taking over the reins from Tito Mboweni.
The New Development Bank has a board of five governors - each from the five BRICS nations: Brazil, Russia, India, China and South Africa.
The other governors are:
- Paulo Guedes, Minister of the Economy for Brazil;
- Anton Siluanov, Minister of Finance for Russia;
- Nirmala Sitharaman, Minister of Finance for India - Sitharaman is the chairperson of the board of governors; and
- Kun Liu, Minister of Finance for China.
Director appointments to the bank include four representatives from the finance ministries of Russia, India and China.
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