SOUTH AFRICAN TREASURY OFFICIAL TO HEAD BRICS BANK AFRICA REGION OFFICE

PRETORIA– South Africa’s National Treasury has announced that the Director of its Economic Policy Division, Monale Ratsoma, will be leaving to head up the African Regional Centre of the BRICS Bank, the international development bank set up by the Brazil, Russia, Indica, China and South Africa (BRICS) grouping od major emerging countries.

Ratsoma, who served in the Treasury as director-general in charge of policy formulation, has been appointed Director-General of the BRICS New Development Bank’s African Regional Centre.

The appointment is effective from April 16, 2018; and it is expected the BRICS Bank will issue around 4.0 billion Rand (about 332 million US dollars) worth of projects financed by the end of 2018.

A number of infrastructure projects are in the pipeline and under consideration by the bank. Ratsoma will be managing the bank’s Africa Region operations and leading its efforts in project preparation, implementation and portfolio management.

Source: NAM NEWS NETWORK