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South Africa's Ramaphosa Renews SA Reserve Bank Governor's Tenure for Another Five Years
South Africa's Ramaphosa Renews SA Reserve Bank Governor's Tenure for Another Five Years
Sputnik Africa
The South African Reserve Bank is the central bank of South Africa, which was established in 1921. South Africa's ex-president Jacob Zuma appointed Lesetja... 16.03.2024, Sputnik Africa
2024-03-16T13:05+0100
2024-03-16T13:05+0100
2024-03-16T13:33+0100
cyril ramaphosa
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South Africa's President Cyril Ramaphosa has reappointed Lesetja Kganyago for another five-year term as the governor of the South African Reserve Bank (SARB), the president's spokesman Vincent Magwenya said on Friday.In addition, Ramaphosa named Mampho Modise to replace Kuben Naidoo as the Reserve Bank's deputy governor. Starting on April 1st, Modise will hold the position for the next five years. With effect from August 1, 2024, Ramaphosa has also reappointed Rashad Cassim and Nomfundo Tshazibana to another five-year term as the bank's other deputy governors.Kganyago, an economist by training, served in various positions at the South African National Treasury from 1996 to 2011.In 2011, he was designated as the deputy governor of the SARB. He assumed the position of its governor on November 9, 2014.The official also served as the chairperson of the International Monetary and Financial Committee, which is the policy advisory committee of the Board of Governors of the International Monetary Fund, from 2018 to 2020. In 2019, Ramaphosa extended Kganyago's tenure as the governor of the SARB for another five years.
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cyril ramaphosa, south africa, southern africa, central bank, economy, international monetary fund (imf)
cyril ramaphosa, south africa, southern africa, central bank, economy, international monetary fund (imf)
South Africa's Ramaphosa Renews SA Reserve Bank Governor's Tenure for Another Five Years
13:05 16.03.2024 (Updated: 13:33 16.03.2024) Christina Glazkova
Writer / Editor
The South African Reserve Bank is the central bank of South Africa, which was established in 1921. South Africa's ex-president Jacob Zuma appointed Lesetja Kganyago as the bank's governor in 2014.
South Africa's President Cyril Ramaphosa has
reappointed Lesetja Kganyago for another five-year term as the governor of the South African Reserve Bank (SARB), the president's spokesman Vincent Magwenya said on Friday.
"President Cyril Ramaphosa has [...] reappointed Mr Lesetja Kganyago as governor of the South African Reserve Bank for a period of 5 years, with effect from the 9th of November 2024. The reappointment of Governor Kganyago will ensure continuity and institutional stability at the Reserve Bank," the spokesman said.
In addition, Ramaphosa named Mampho Modise to replace Kuben Naidoo as the Reserve
Bank's deputy governor. Starting on April 1st, Modise will hold the position for the next five years.
With effect from August 1, 2024, Ramaphosa has also reappointed Rashad Cassim and Nomfundo Tshazibana to another five-year term as the bank's other deputy governors.
Kganyago, an economist by training, served in various positions at the South African National Treasury from 1996 to 2011.
In 2011, he was designated as the deputy governor of the SARB. He
assumed the position of its
governor on November 9, 2014.
The official also served as the chairperson of the International Monetary and Financial Committee, which is the policy advisory committee of the Board of Governors of the
International Monetary Fund, from 2018 to 2020.
In 2019,
Ramaphosa extended Kganyago's tenure as the governor of the SARB for another five years.
