Tuesday 6 December 2016

Making NTMA act beyond mandate was unforgivable

Published 15/01/2011 | 05:00

THE National Treasury Management Agency was once seen as one of the State's most successful innovations.

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Delegations came from far and wide to learn how the agency had cut the cost of borrowing -- by moving away from a civil servant mentality to an unusual hybrid that resembled something between a central bank and a merchant bank.

It was a great achievement and much of the credit belongs to Michael Somers, the sometimes spiky and sometimes avuncular chief executive who ran the organisation from its foundation until last year.

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