Reserve Bank: Ramaphosa re-appoints Kganyago, appoints 2 new deputies

President Cyril Ramaphosa has re-appointed Lesetja Kganyago as governor of the SA Reserve Bank, the Ministry of Finance has said in a statement.

Kganyago will serve another five years, effective from November 9, 2019. His current term ends on November 8.

Fundi Tshazibana and Rashad Cassim have been appointed as deputies.

Tshazibana is currently the Adviser to the Governors of the SARB. She was appointed as adviser in January 2018, though the appointment became effective in February this year, making her the seventh member of the Monetary Policy Committee (MPC). 

She has worked at the International Monetary Fund (IMF), the National Treasury, and the National Energy Regulator of South Africa (Nersa), and holds a Master’s degree in economics.

Cassim is currently Head of Economic Research and Statistics at the SARB, and holds a PhD in Economics. Before joining the SARB, he was Deputy Director General of Economic Statistics at Statistics South Africa and Professor and Head of School of Economics and Business Sciences at the University of the Witwatersrand.

He also held various positions at the University of Cape Town, including as Director of the Trade Policy Monitoring Secretariat.

Cassim has been an outspoken critic of proposed nationalisation of the Reserve Bank.

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.”