Gordhan names new Treasury DG

Lungisa Fuzile has been appointed director-general of the National Treasury, Finance Minister Pravin Gordhan said on Wednesday.

"I am pleased to announce the appointment of Mr Lungisa Fuzile as the new director-general of the National Treasury effective 16 May 2011," Gordhan said in a statement.

Fuzile takes over from Lesetja Kganyago, who was appointed deputy governor of the SA Reserve Bank last month. He takes up his new position on May 16. 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," the minister said.

Fuzile joined the Treasury in February 1998 as a deputy director in the intergovernmental relations division.

"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."

Previously, Fuzile was a statistician, university lecturer and teacher.