Publications SARB’s new deputy governors PRETORIA, SOUTH AFRICA MARCH 26: Reserve Bank governor Lesetja Kganyago on March 26, 2015 in Pretoria, South Africa. South African Reserve Bank Governor … Reserve Bank governor Lesetja Kganayo said that while the easing of lockdown in South Africa has supported economic growth, the risk of future … On the final day of the conference, the South African Reserve Bank Governor, Lesetja Kganyago and Public Enterprises Minister, Pravin Gordhan addressed investors. The South African Reserve Bank Pretoria headquarters are situated at 370 Helen Joseph Street. SARB Governor Lesetja Kganyago made the announcement on Thursday, following a Monetary Policy Committee (MPC) meeting. South Africa’s President Cyril Ramaphosa reappointed Lesetja Kganyago to a five-year term as the governor of the South African Reserve Bank in move that is likely to be cheered by markets. Naidoo, who previously worked with Kganyago as a senior official at the National Treasury, joined the central bank in April 2013. He was the Chairperson of the Standing Committee on the Revision of the Banks Act and was a member of the Board, the Board Risk and Ethics Committee (BREC), the Governor’s Executive Committee (GEC), the Monetary Policy Committee (MPC) and the Financial Stability Committee (FSC). He was appointed to the central bank's board as a … (Image: Sarb) Brand South Africa reporter. He was also a member of the Financial Stability Board Standing Committee on Standards Implementation (SCSI) and Co-Chair of the Financial Stability Board Regional Consultative Group for Sub-Saharan Africa. Governor Kganyago has more than 20 years of experience in formulating and implementing public policy, having spent this time at the central bank … This … Reserve Bank Governor Lesetja Kganyago is a level-headed man who remains above the political fray while steering the country’s macroeconomic policy. Philosophy; Banker and Advisor to Government; Management of the South African money and banking system; Risk Management. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial conditions which World War I had brought. He was succeeded by Dr. Chris Stals. He is the Governor of the South African Reserve Bank (SARB). South Africa should implement its National Development Plan rather than draft a new strategy to revive an economy forecast to contract the most in … Contact Us The remaining seven directors are appointed by the Shareholders of the Bank, also for a three-year term. Read about FSB members’ commitment to lead by example in terms of their adherence to international standards. Tuesday, December 20, 2011 Pretoria - President Jacob Zuma has appointed Francois Groepe as Deputy Governor of the South African Reserve Bank. Reserve Bank cuts repo rate to 4.25%. South Africa’s crisis of confidence and the policy response. Reserve Bank Governor, Lesetja Kganyago will announce the Monetary Policy Committee's decision. An upgrade is recommended to improve you browsing experience. Johannesburg - South African Reserve Bank Governor Gill Marcus’s salary rose 4.5 percent last year, less than inflation. Groepe has served Media24 previously as CEO of the newspaper division as well as financial director. South African President Jacob Zuma appointed Kuben Naidoo, an adviser to Reserve Bank Governor Lesetja Kganyago, as deputy of the central bank from April 1.. Naidoo, who previously worked with Kganyago as a senior official at the National Treasury, joined the central bank in April 2013. (Photo: Waldo Swiegers / Bloomberg via Getty Images) Business Maverick South Africa Central Bank … In this role he served as the Chair of the Development Committee Deputies and also co-chaired a G20 Working Group on the reform of the IMF. Kganyago is currently the deputy Sarb governor, having served in the position since 16 May 2011. Given the indication from Mr Mboweni, I have therefore decided to designate Ms Gill Marcus as Governor of the South African Reserve Bank with effect from the 9th of November 2009. The South African Reserve Bank is governed by a board of 14 members, which include the bank's governor, three deputy governors, three directors who are appointed by South Africa… President Cyril Ramaphosa has, following consultation with the Minister of Finance and the Board of the South African Reserve Bank, appointed Ms Fundi Tshazibana and Mr Rashad Ismail Cassim as Deputy Governors of the South African Reserve Bank. He was appointed to the central bank's board as a non-executive director representing government. Our website has detected that you are using an outdated browser that will prevent you Lesetja Kganyago was appointed Governor of the South African Reserve Bank (SARB) with effect from 9 November 2014. The other general contact details for the reserve bank Pretoria location are: … Lesetja Kganyago was reappointed by President Cyril Ramaphosa as the Governor of the Reserve Bank for a period of five years, with effect from 9 November 2019. I have re-appointed Mr Mboweni as Reserve Bank Governor. He is the Governor of the South African Reserve Bank (SARB). Phone: 012 313 3911 SA Reserve Bank top leaders' moderate rise after profit of R3.2bn By Kabelo Khumalo Jun 26, 2018 JOHANNESBURG - SA Reserve Bank (Sarb) governor Lesetja Kganyago's salary … The South African Reserve Bank (Sarb) governor Lesetja Kganyago is announcing the latest decision on interest rates for the country later today. Four of the directors are also appointed by the President for terms of three years. Lesetja Kganyago. The South African Reserve Bank (SARB) is the central bank of South Africa. It is now clear that the COVID-19 outbreak will produce the worst economic downturn in a century. Former ANC Nelson Mandela Bay councillor Andile Lungisa has apologised to South African Reserve Bank (SARB) Governor Lesetja Kganyago, following tweets … PRETORIA, SOUTH AFRICA – MARCH 26: Reserve Bank governor Lesetja Kganyago on March 26, 2015 in Pretoria, South Africa. 14 Apr 2020 Statement of the Monetary Policy Committee - Issued by Lesetja Kganyago, Governor of the South African Reserve Bank Since the March meeting of the Monetary Policy Committee (MPC), the Covid-19 pandemic has spread globally and its impact is being felt through all economies. Previous Governors; Legislation; Mandate; Functions. Mboweni, a former South African Reserve Bank governor, called on Lungu in now-deleted tweets to explain the dismissal. South African Reserve Bank Governor Lesetja Kganyago listens during an interview in New York City, in New York, US, on November 9, 2017. An address by Lesetja Kganyago, Governor of the South African Reserve Bank, at the CEEF Africa Annual Banquet in celebration of 21 years of leadership investment in Johannesburg on 19 June 2017. On all banknotes you will see little dots. He holds a MSc in Economics from SOAS London University and a BCom degree in Economics and Accounting from UNISA. He assumed the Governorship of the South African Reserve Bank on 9 November 2014, following the expiry of the term of his predecessor Gill Marcus, on 8 November 2014. FAQs, Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), Reserves Management and Foreign Exchange Operations, Download Information from Zipped Data Files, Download Information from XLSX Data Files, Guide for the Completion of Statistical Returns by Public-Sector Institutions, Institutional Sector Classification Guide for SA, Promotion of Access to Information Manual. The South African Reserve Bank (SARB) on Wednesday afternoon announced Lesetja Kganyago's reappointment as governor for another five years, and the appointment of Nomfundo (Fundi) Tshazibana and Rashad Cassim as deputy governors. The South African Reserve Bank has a responsibility to maintain price stability and look after the economy. SARB Governor Lesetja Kganyago announces repo rate remains unchanged Kganyago made the announcement during a briefing on Thursday afternoon. South African Reserve Bank (Sarb) Governor Lesetja Kganyago has announced the Monetary Policy Committee's decision to cut the country’s “repo rate” by a whopping 100 basis points. As early as 1951 Dr Gerhardus de Kock was engaged by the Reserve Bank to … The South African Reserve Bank (Sarb) governor Lesetja Kganyago is announcing the latest decision on interest rates for the country later today. Lesetja Kganyago was born in Johannesburg, South Africa in 1965. Little dots. Dr G P C de Kock, 1 January 1981 to 7 August 1989 (the only person who died while still serving as Governor) Dr C L Stals, 8 August 1989 to 7 August 1999 Mr T … Governor, South African Reserve Bank. He assumed the Governorship of the South African Reserve Bank on 9 November 2014, following the expiry of the term of his predecessor Gill Marcus, on 8 November 2014. He was the Director-General of the National Treasury from 2004 until his appointment at the SARB. We expect that ‘the great lockdown’ will cause output to contract by about 7% … South African Reserve Bank Governer Lesetja Kganyago. Policy; Governance Structure; Framework; Risk Management and Compliance Department; Processes; Approach And Methodology ; Whistle-blowing@SARB; Reserve Bank Shares. Lesetja Kganyago, became governor of South Africa Reserve Bank after Gill Marcus. Tshazibana’s and Cassim’s appointment fill the two vacancies left by the resignation of Francois Groepe in January 2019, and the retirement of Daniel … The South African Reserve Bank (SARB) has for the second consecutive cycle kept the repurchase rate unchanged at 3.5% per annum. Groepe has served Media24 previously as CEO of the newspaper division as well as financial director. He represented South Africa in international organisations such as the World Bank, the IMF, the G20 and the African Development Bank. The South African Reserve Bank © Copyright 2020. Marcus’s pay for the 12 months through March increased to 5 … Lesetja Kganyago will take over as the new South African Reserve Bank (Sarb) governor when Gill Marcus’s current five-year term ends on 8 November 2014. 1 Min Read JOHANNESBURG, Nov 23 (Reuters) - South Africa’s full economic recovery from the coronavirus crisis is likely to be “slow and difficult,” … Governor of the South African Reserve Bank Lesetja Kganyago is suing Nelson Mandela Bay ANC councillor Andile Lungisa for defamation of character. South Africa’s central bank said on Wednesday the coronavirus had resulted in far reaching risks to financial stability and banks’ profitability would suffer, but lenders were in a good position to weather the storm. SARB has a board of directors consisting of a Governor Lesetja Kganyago three Deputy Governors, and eleven Directors. President Ramaphosa appointed the Deputy Governors in terms of Section 4(1)(a), read with Section 5(1)(a), of the South African Reserve Bank Act (Act 90 of 1989). Governor of the South African Reserve Bank Lesetja Kganyago is suing Nelson Mandela Bay ANC councillor Andile Lungisa for defamation of character. President Cyril Ramaphosa appoints South African Reserve Bank Deputy Governors. Lesetja Kganyago (born 7 October 1965) is a South African economist and central banker. It was established in 1921 to protect South Africa’s commercial banks after a rise in the gold price following World War I … Lesetja Kganyago was appointed Governor of the South African Reserve Bank (SARB) with effect from 9 November 2014. The Governor, and Deputy governors are appointed for five-year terms by the President of South Africa in consultation with the Minister of Finance. On the front of the banknote they are on the left and on the back they are on the right. Lesetja Kganyago, governor of the South African Reserve Bank. In accordance with section 4(1)(a), read with section 5(1)(a)of the South African Reserve Bank Act, Act 90 of 1989, the Governor and three deputy governors of the South African Reserve Bank are appointed by the President after consultation with the Minister of Finance and the Board of Directors of the South African Reserve Bank. Search JOHANNESBURG - South African Reserve Bank (Sarb) governor Lesetja Kganyago is currently announcing the bank's latest decision on interest rates following the three-day meeting of … However he has indicated his wish to leave in November 2009 to pursue other interests. (Photo: Waldo Swiegers / Bloomberg via Getty Images) The South African Reserve Bank, the coronavirus shock, and ‘the age of magic money’. Pretoria - President Jacob Zuma has appointed Francois Groepe as Deputy Governor of the South African Reserve Bank. Lesetja Kganyago (born 7 October 1965) is a South African economist and central banker. Ms Tshazibana and Mr Cassim will assume their five … He was appointed to that post on 6 October 2014, by Jacob Zuma, the former President of the Republic of South Africa (RSA). South African Reserve Bank deputy governor and chief executive of the Prudential Authority Kuben Naidoo has explained the central bank’s motives in limiting capital outflows from South Africa. His term was from 1 January 1981 until his death on 7 August 1989. Annual monitoring exercise to assess global trends and risks in non-bank financial intermediation. Lecture by Lesetja Kganyago, Governor of the South African Reserve Bank, at the Wits School of Governance in Johannesburg. certain features. Dr. de Kock was the first (and only) Governor of the South African Reserve Bank to die in office. SA Reserve Bank Building, 370 Helen Joseph Street , PRETORIA. Lesetja Kganyago was born in Johannesburg, South Africa in 1965. South African Reserve Bank Governor Lesetja Kganyago listens during an interview in New York City, in New York, US, on November 9, 2017. Keynote address by Mr Rashad Cassim, Deputy Governor of the South African Reserve Bank, at the 3rd Annual HSBC Africa Conference, 30 November 2020. The South African Reserve Bank announces the interest rate decision on Thursday. The South African Reserve Bank (SARB) on Wednesday afternoon announced Lesetja Kganyago's reappointment as governor for another five years, and the appointment of Nomfundo (Fundi) Tshazibana and Rashad Cassim as deputy governors. Copyright © 2020 | Financial Stability Board, Financial innovation and structural change, Derivatives markets and central counterparties, Global Systemically Important Financial Institutions, FSB Continuity of access to FMIs for firms in resolution: Informal summary of outreach and Q&A, OTC Derivatives Market Reforms: 2020 Note on Implementation Progress, The implications of climate change for financial stability, Global Monitoring Report on Non-Bank Financial Intermediation 2019, Regulatory and Supervisory Issues Relating to Outsourcing and Third-Party Relationships: Discussion paper, Central Banking interview on the FSB's too-big-to-fail evaluation, FSB Americas group discusses financial market developments and enhancing cross-border payments, FSB Sub-Saharan Africa group discusses regional vulnerabilities and enhancing cross-border payments, FSB examines financial stability implications of climate change. Home Governor of the South African Reserve Bank, Lesetja Kganyago, speaks during a press conference in Washington, DC on April 21, 2018. On the front of all banknotes you will also see the South African Reserve Bank Governor’s signature. Two new deputy governors begin their tenures with the South African Reserve Bank today and bring a wealth of experience from both inside and outside of civil service. Immediately prior to her appointment to that position, she served as an adviser to the Governor of the bank, since 10 February 2018. South African President Jacob Zuma appointed Kuben Naidoo, an adviser to Reserve Bank Governor Lesetja Kganyago, as deputy of the central bank from April 1. Find out more about the committees and composition of the FSB. Prior to his elevation as Governor, Lesetja Kganyago served as Deputy Governor of the South African Reserve Bank (SARB) with effect from 16 May 2011. He was appointed to that post on 6 October 2014, by Jacob Zuma, the former President of the Republic of South Africa (RSA). (Waldo Swiegers/Bloomberg) In that role, he was responsible for prudential regulation and supervision, which encompasses Financial Regulatory Reform; Banking Supervision and the Financial Surveillance Department. He also received various training in Finance, Economics and Management. Reserve Bank Governor's signature. 090609 Reserve bank deputy Gorvner Daniel Mminele at the media briefing in Saxon Hotel.photo by Simphiwe Mbokazi . Claudia M. Buch, Vice-President, Deutsche Bundesbank talks to Central Banking about the FSB’s too-big-to-fail evaluation. Rashad Cassim: Lessons from the crisis and the post-COVID-19 outlook for monetary policy from accessing Governor of the South African Reserve Bank Lesetja Kganyago. South Africa's full economic recovery from the coronavirus crisis is likely to be "slow and difficult," deputy central bank governor Fundi Tshazibana said on Monday. Nomfundo Tshazibana (born c.1977), commonly known as Fundi Tshazibana, is a South African economist, who serves Deputy Governor of the South African Reserve Bank from 10 July 2019. Lesetja Kganyago, governor of the South African Reserve Bank. The global economy has been as favourable recently as it has been for some time. With Europe and the U.S experiencing a fresh spike in COVID-19 cases, new lockdowns and curfews, the South African Reserve Bank decided to keep rates unchanged. Instead of the South African Reserve Bank logo, the name is written on the building for clarity. The Reserve Bank is the central bank of South Africa. He holds a MSc in Economics from SOAS London University and a BCom degree in Economics and Accounting from UNISA. Governor of the South African Reserve Bank (SARB) Lesetja Kganyago was reappointed as the Governor of the South African Reserve Bank (SARB) for a second term in November 2019; his first was effective from 9 November 2014. WATCH LIVE: SA Reserve Bank governor announces interest rate decision By Staff Reporter Mar 19, 2020 JOHANNESBURG - South African Reserve Bank (Sarb) governor Lesetja Kganyago is … SA Reserve Bank Governor Lesetja Kganyago said that inflation was under control for now but this could change and the bank has needed to act. There are good reasons to have some prudential restrictions on capital leaving the country, especially savings in retirement funds and the reserves of insurance companies, Mr Kuben Naidoo, South African Reserve Bank (SARB) deputy governor and chief executive of the Prudential Authority, has said. 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