President Cyril Ramaphosa has appointed Mr Daniel Mminele as head of the newly established Presidential Climate Finance Task Team. In this role, Mr Mminele will lead South Africa’s efforts to mobilise finance for a just transition.
On 2 November 2021, the South African government announced an historic partnership with the governments of France, Germany, the United Kingdom and the United States, as well as the European Union, to support a just transition to a low carbon economy and a climate resilient society in South Africa.
In line with the Political Declaration to establish this partnership, partner countries have offered to mobilise an initial $8.5 billion (R132 billion) over the next three to five years through a range of instruments, including grants and concessional finance, to support the implementation of our revised Nationally Determined Contribution.
The Presidential Climate Finance Task Team, led by Mr Mminele together with the Asset and Liability Division from National Treasury, will analyse the offer with a view to advising cabinet on its composition, affordability, alignment with our regulatory environment, engage with partner countries; coordinate relevant government departments, development finance institutions, and the private sector; and oversee the development of relevant financing mechanisms and facilities to enable the flow of international climate finance to support South Africa’s just transition in the electricity, electric vehicles and green hydrogen sectors.
Mr Mminele has been Independent Non-Executive Director and chair-designate at Alexander Forbes Group Holdings since January 2022.
He served as Chief Executive of Absa Group Limited until 30 April 2021. Prior to joining Absa in January 2020, he was a Deputy Governor of the South African Reserve Bank (SARB) since July 2009 where he served two five-year terms. During a career spanning nearly 20 years at the South African Reserve Bank, Mr Mminele represented the SARB and South Africa in many international fora on the African continent and beyond.
His experience before the SARB included credit-risk analysis, corporate banking, and project and structured finance at private banking institutions in Germany, the United Kingdom and South Africa.
Mr Mminele was the recipient of the 2019 Life Time Achiever Award of the Association of Black Securities and Investment Professionals.
As a well-respected leader both in government and the financial sector, Mr Mminele will support South Africa’s ambition to achieve a just transition that advances the country’s interests; protects vulnerable workers and communities; contributes to investment, growth and sustainable jobs; and supports the global fight against climate change.
Distributed by APO Group on behalf of The Presidency: Republic of South Africa.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
