Name Derek Keys | ||
Born 30 August 1931 (age 93) ( 1931-08-30 ) | ||
Derek Lyle Keys (born 30 August 1931) was the finance minister of South Africa from 1992 to September 1994, serving in the cabinets of F W de Klerk and Nelson Mandela. In order to become Finance Minister he reluctantly joined South Africa's National Party.
Career
Derek Keys joined the Industrial Development Corporation of South Africa in 1965. In the subsequent eight years he was involved in the development of many of the major South African industries. Until 1986 Keys played largely advisory roles for several international and local companies operating in South Africa. During these 21 years he joined the boards of, Inter Alia, Malbak, National Discount House, Asea, Price Forbes, Sandvik, Samancor and Sappi. Prior to becoming minister, he had been the executive chairman of Gencor since 1986.
In December 1991 Keys was appointed Minister of Economic Co-ordination and of Trade and Industry. In 1992 the portfolio of Minister of Finance was added to Keys' tasks. He had previously served on government bodies in an advisory capacity, including the Commission for electricity, the Tax Advisory Committee and the State Presidents' Economic Advisory Council.
Keys resigned shortly on 6 July 1994, and was replaced by banker Chris Liebenberg on 19 September.