Worries Over Skills Exodus At South Africa’s National Treasury

THE South African National Treasury’s succession planning is sufficient to ensure the exit of key personnel doesn’t disrupt plans to return public finances to a sustainable path, its top civil servant said.

Tshepiso Moahloli – the head of assets and liability management and the most high-profile woman at the Treasury – last week became the latest senior official to resign, as new finance minister Enoch Godongwana prepares to deliver the medium-term budget.

Her departure follows that of Roy Havemann, Catherine MacLeod, Ian Stuart and Khetha Dlamini, all senior Treasury staff who regularly interacted with investors.

While investors have no doubt about the skills and qualifications of the Treasury’s staff, they are concerned there aren’t enough experienced individuals to replace departing veterans like Stuart and fill other vacancies, said two economists who closely follow its personnel changes. They asked not to be identified because of the sensitivity of the subject.

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