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I am pleased to announce the appointment of Mr Lungisa Fuzile as the new Director-General of the National Treasury effective 16 May 2011.

Mr Fuzile joined the National Treasury in February 1998 as a deputy director in the Intergovernmental Relations division, where he gained a sound understanding of the intergovernmental finance system and rose through the ranks to become the head of the division. In this position he demonstrated strategic leadership to the development and maintenance of the intergovernmental fiscal framework, including the review of the formulae for the transfer of resources to provincial and local governments.

Mr Fuzile is currently the Treasury’s Head of Asset and Liability Management. In this capacity Fuzile, together with the DG and other Treasury colleagues, meets domestic and foreign investors twice a year to sell them the good prospects that South Africa offers. In his various positions in the Treasury he has acquired a deep understanding of the work of the department including financial market development, and global and domestic economic context. Before joining the Treasury, he worked as a statistician, university lecturer and teacher.

I would like to take this opportunity to thank Mr Lesetja Kganyago, the out-going Director-General, for his vibrant leadership and dedication over the past 15 years. We are confident that the exceptional work of the department will continue under Mr Fuzile’s sterling leadership.