Edward Kieswetter new Sars head

South Africa named former chief executive of Alexander Forbes as the new head of the tax collection agency on Wednesday, in the latest high profile appointment by President Cyril Ramaphosa weeks before national elections.

The National Treasury said Edward Kieswetter, former head of the financial services group and tax law graduate would start his five-year term at the South African Revenue Services (Sars) at the beginning of May, replacing acting commissioner Mark Kingon.

In November, Ramaphosa fired Tom Moyane, an ally of former president Jacob Zuma, as head of Sars after a lengthy suspension over mismanagement and infighting that led to a R50 billion ($3.4 billion) revenue shortfall in 2017 budget.

Moyane’s axing and the judicial inquiry that recommended it is one of a score of investigations into state corruption set up by Ramaphosa following his election last February.

Ramaphosa has pledged to reverse the political and policy uncertainty of the last decade, as well as maintain the ANC’s electoral majority at polls set for May 8, a feat analysts say will be hard to achieve with stagnant economic growth and rising poverty pushing voters towards opposition parties. ($1 = 14.5911 rand) 

Source: moneyweb.co.za