Media Statement on the First Meeting of the Panel of Economic Advisors to the Presidency

Tuynhuys: President Thabo Mbeki today, March 28, convened the first meeting of the Panel of Economic Advisors to the Presidency in Cape Town, Tuynhuys.

The members of the Panel are Dr Iraj Abedian, Dr Haroon Bhorat, Dr Ruel Khoza, Mr JP Landman, Ms Viv McMenamim, Mr Lumkile Mondi, Ms Gloria Serobe and Dr Rejoice Simelane.

The purpose of the panel is to advise the Presidency on economic matters. The agenda for the first meeting included a presentation of AsgiSA (Accelerated and Shared Growth Initiative of South Africa) to the panel, a discussion of issues emerging from AsgiSA, and an assessment of the state of the South African economy.

The panel also discussed the modalities of future interactions with the Presidency.

The Deputy President, Ms Phumzile Mlambo-Ngcuka, Minister in The Presidency, Dr Essop Pahad, Director General in The Presidency, Rev Frank Chikane and the Head of The Presidency's Policy Unit, Mr Joel Netshitenzhe, were also at the meeting.

Brief descriptions of the panel members, in no particular order:

1. Dr Ruel Khoza

Dr Ruel Khoza has a doctorate from Warwick University (UK) and graduated from the Management Development Programme at Harvard University. He is currently the chairman of Aka Capital and was the chairman of Eskom for many years. He sits on the boards of GlaxoWelcome SA, IBM SA, Vodacom, JCI, Standard Bank and Liberty. He also holds directorships in Corobrik, JSE Securities Exchange and Protea Hospitality Holdings.

2. Dr Haroon Bhorat

Dr Haroon Bhorat has a PhD in economics and currently heads the Development Policy Research Unit at UCT. He is considered as one of the leading younger academic economists and is a top labour market economist. He has published extensively both at home and abroad on poverty and labour market issues.

3. Dr Iraj Abedian

Dr Iraj Abedian has a PhD in economics and currently heads his own consulting firm (Pan African Investments). Previously he was the head of the Economics Research Division of Standard Bank and before that Professor of Economics at UCT. He is considered one of the leading macro-economists in South Africa.

4. Dr Rejoice Simelane

Dr Rejoice Simelane has a PhD in economics and is currently CEO of Ubuntu-Botho Investment (Pty) Ltd. She has extensive knowledge and experience in public economics and was previously employed by the Department of Trade and Industry, National Treasury and as economic advisor in the Premier's Office in Mpumalanga. Earlier she lectured in economics at the University of Swaziland, and later lectured part-time at the University of Pretoria. She also serves on the boards of African Rainbow Minerals and Sanlam.

5. Ms Viv McMenamim

Ms McMenamin has a Masters degree in economics and is considered one of South Africa's foremost local economic development experts. She currently is the head of corporate social investments at Mondi Paper Mill. Before that she was the head of economic development for the E'Thekweni Metro, and previously worked in the ANC economic unit.

6. Mr Lumkile Mondi

Mr Lumkile Mondi has a Masters degree in economics and is currently Chief Economist and Vice-President of the IDC. He is a macro-economist with extensive industrial policy knowledge and experience. He was the group economist at Transnet and treasury economist at SCMB. He has also worked at the Labour Bulletin, DBSA and Deloitte and Touche, and was a lecturer in economics at WITS University.

7. Ms Gloria Serobe

Ms Gloria Serobe has B Comm and MBA degrees and was a founding member of WIPHOLD and is currently CEO of Wipcapital. She was previously Director Finance at Transnet and worked for Exxon Corporation in the USA, Munich Reinsurance Company of SA, the Premier Group and SCMB. She serves on the boards of Old Mutual, Nedbank, JSE, and the Export Credit Insurance Corporation, is chair of the Life Offices Association and a member of the Financial Services Charter Council.

8. Mr JP Landman

Mr JP Landman has BA and LLB degrees and a Masters in future studies. He is an independent and self-employed political-economic analyst and consultant. He regularly addresses business and audiences on current and future trends in South Africa. He used to work as an industrial relations analyst and was the editor of Finansies en Tegniek and Finance Week.

Enquiries: David Hlabane at 082 561 9428.

Issued by The Presidency on 28 March 2006.