Okonjo-Iweala To Consult For South Africa To Defeat Recession

Nigeria’s former Minister of Finance, Dr. Ngozi Okonjo-Iweala has been consulted by the South Africa’s government to help rescue the nation out of recession.

South Africa is currently experiencing economic downturn as it entered its second recession in two years, and Okonjo-Iweala is the woman the nation has consulted to help rescue it from the shackles of recession.

Statistically, South Africa said the economy shrank 1.4 per cent in the fourth quarter, following a revised 0.8 per cent contraction in the third quarter. Agriculture declined 7.6 per cent, transport 7.2 per cent, construction 5.9 per cent, electricity 4 per cent and retail 3.8 per cent, the data showed.

The former minister tweeted on Saturday, saying that she met with President Cyril Ramaphosa, and members of the Presidential Economic Advisory Council in Pretoria to discuss the way forward.

“With President Ramaphosa, members of cabinet, and members of the Presidential Economic Advisory Council in Pretoria discussing sources of growth for the South African economy and win-win economic interactions with the continent,” she tweeted.

With President Ramaphosa, members of cabinet, and members of the Presidential Economic Advisory Council in Pretoria discussing sources of growth for the South African economy and win-win economic interactions with the continent. pic.twitter.com/MMhZ3MLneQ — Ngozi Okonjo-Iweala (@NOIweala) March 7, 2020