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President Cyril Ramaphosa last week announced the members of his new Presidential Economic Advisory Council, an academic-heavy brain trust that he hopes will help spur inclusive growth.

The council, a non-statutory and independent body, will be chaired by Ramaphosa. Its 18 members — from South Africa and abroad — are appointed to serve three-year terms. They are not paid, but compensated for subsistence and travel.

The president first announced the idea for an economic advisory council 18 months ago during his maiden State of the Nation Address. At the time he said the council would work to “greater coherence and consistency in the implementation of economic policy”.  Last Friday, Ramaphosa said the council would serve as a forum for “in-depth and structured discussions on emerging global and domestic developments”. It will meet quarterly at first, before deciding on a timetable for meetings.

“The Council will also be instrumental in building a knowledge base of policy and implementation lessons, best practices and field-tested success stories,” he said.