South African Finance Minister, Enoch Godongwana has been appointed a governor of the New Development Bank.

The bank, in a statement released earlier today, said the Minister’s s appointment has been effective from 17 August this year.

Godongwana was recently appointed as Finance Minister, taking over the reins from Tito Mboweni.

The New Development Bank has a board of five governors, each from the five BRICS nations: Brazil, Russia, India, China and South Africa.