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National Treasury Welcomes Minister, Deputy Ministers

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PRETORIA: The National Treasury has welcomed the newly sworn-in Minister of Finance, Enoch Godongwana, and the two Deputy Ministers of Finance, Dr. David Masondo and Ashor Sarupen. Godongwana has served as Minister of Finance since August 2021, while Deputy Minister Masondo has been with the department since May 2019. This will be Sarupen's first time at the department.

According to South African Government News Agency, "The department looks forward to working together with the principals and the seventh administration as a collective. It will be important for the department to ensure a continuation of the balanced fiscal stance set out in the 2024 Budget, which aims to stabilize public finances and reduce fiscal and economic risks, while promoting economic growth and supporting vulnerable members of society."

The department's welcome message follows the swearing-in ceremony of Deputy President Paul Mashatile and Cabinet ministers of the seventh administration on Wednesday. During his tenure as the Minister of Finance, National Treasury focused on returning public finances to stability and stabilizing debt.

"Minister Godongwana's leadership contributed to National Treasury implementing significant financial sector reforms, including the much-publicized and anticipated TwoPot System, which will come into effect in September 2024," National Treasury said.

Deputy Minister Masondo, as the Chair of the Public Investment Corporation (PIC), played a crucial role in steering the mandate of the PIC and ensuring the company, with assets under management of over R2 trillion, made sound investments. The office of the Deputy Minister also played a crucial role in overseeing the work of Operation Vulindlela, an initiative highly commended for its assistance in supporting departments to implement structural reforms in key sectors such as energy, water, and telecommunications.

Deputy Minister Sarupen served on the Ekurhuleni Metropolitan Council in 2011 and as the Chief Whip of the Official Opposition in the Council. He also served as a Member of the Gauteng Legislature between 2014 and 2019 and subsequently as a Member of Parliament and the Democratic Alliance's Shadow Minister on the Appropriations Committee since 2019.