Two key National Treasury appointments

National Treasury announced two key appointments a month before Finance Minister Enoch Godongwana delivers his mid-term budget statement.

The Treasury named Mmakgoshi Lekhethe as deputy director-general for asset and liability management, effective from Oct. 2. She replaces Duncan Pieterse, appointed director-general of the Treasury last month.

Lekhethe, who joined the Treasury almost three decades ago, was recently the acting deputy director-general responsible for Treasury’s tax and financial sector policy.

In her role, she had oversight of the government’s engagement with various financing institutions, including the World Bank, the African Development Bank, the G20 and the Organisation for Economic Co-operation and Development, according to a Treasury statement.

Her other roles within Treasury have included deputy director-general of international and regional economic policy and board representation at the African Development Bank, the New Development Bank, and the World Bank.

The Treasury also appointed Christopher Axelson as acting head of tax and financial sector policy.

Axelson, who first joined the department in 2012 as director for personal income taxes and savings, has held various roles, including chief director for economic tax analysis, providing direction to the finance minister on tax proposals contained in the government’s budget.

The appointments represent Pieterse’s “swift action to stabilize leadership before the medium-term budget speech,” said Peter Attard Montalto, managing director at Krutham in London.

Axelson is “widely liked and trusted as a fair intermediator of complex tax policy issues and debates,” while Lekhethe “has huge and long experience at National Treasury and in related roles.”

South African Finance Minister Enoch Godongwana will deliver an update on the government’s budget on Nov. 1 and is expected to report declining revenues.