Lesetja Kganyago's term as South African Reserve Bank governor renewed

The President has reappointed Kganyago for another five-year term, and Kganyago is "glad" to do it.

President Cyril Ramaphosa has reappointed Lesetja Kganyago as governor of the South African Reserve Bank (SARB) for a five-year term. 

On Friday 5 July, Kganyago said at a Legae Peresec breakfast that he would serve again: 

"I am appointed by the President in consultation with the board. Should I be asked since you are in this era of sending people, I will gladly do it. If it doesn't happen, it doesn't happen,"

Nomfundo Tshazibana and Rashad Cassim have been appointed as deputy governors of the SARB, also for a five-year term each. 

In a statement, the SARB said that the two positions of deputy governor became vacant following the resignation Francois Groepe in January and the retirement of Daniel Mminele at the end of June. “In this regard, the SARB now has a full complement of executives.”

Kganyago’s second term will start on 9 November, while Tshazibana and Cassim will assume their roles on 1 August. 

Minister of Finance Tito Mboweni said of the appointments: 

"We congratulate the appointees and look forward to working with them. We need not remind them of the tough economic and fiscal circumstances facing South Africa at the current moment. They have my full support and confidence that they will take South Africa forward as we move to bring development to our people."