Ismail Momoniat has been appointed the acting director general of the treasury from today (8 June), Minister of Finance Enoch Godongwana announced on Wednesday.
Momoniat was the deputy director general of tax and financial sector policy.
Momoniat’s temporary appointment follows the resignation of former director general Dondo Mogajane, who worked in the ministry for 23 years.
“Momoniat brings a wealth of experience to the position, having served national treasury with dedication for 27 years, of which 22 years have been instrumental in leadership of the organisation as a deputy director-general,” Godongwana said. “I am confident that Mr Momoniat will keep a steady hand on the organisation, steering the department to meet our strategic agenda while ensuring continuity and stability.
“I, as the minister, the national treasury team, and the broader financial family, welcome Mr Momoniat in this new acting role and assure him of our support and cooperation.”
Momoniat’s long tenure at the treasury was spent formulating the policy and legislative framework for the fiscal and financial governance and accountability system for the public sector, the intergovernmental fiscal framework and the tax and financial regulatory system, according to the treasury.
He was also instrumental in driving the foundational financial and fiscal legislation to give effect to the Constitution, especially the development and enactment of the Public Finance Management Act, which promotes good financial governance in the public sector and outlined the powers and functions of the treasury. He was also integral to the process of adopting the Carbon Tax Act.
The Mail & Guardian recently reported that chances are slim that an outsider will be asked to fill the director general position.
Godongwana told the M&G that the post will be open to both internal and external candidates.
“But traditionally, if you look from Maria Ramos, after Maria it was Lesetja Kganyago, who was drawn from inside,” the minister said. “It was then Lungisa Fuzile, drawn from inside. After Lungisa Fuzile it was Dondo Mogajane, who was from inside. That is not to say that external candidates are not good. It is just that internal candidates have better exposure to the system. And they fit in quickly.”
Analysts agreed that someone from inside would probably be the preferred choice to take over from Mogajane.
Anathi Madubela is an Adamela Trust business reporter at the M&G.