October 6, 2014 – President of South African, Mr. Jacob Zuma has named Mr. Lesetja Kganyago as new governor of South African Reserve Bank.
Until his appointment, he was Deputy governor of the bank. He now replaces Gill Marcus who was appointed to that position in 2009 as first woman governor.
Marcus, who served the bank for five years announced she will step down in November, 2014.
Kganyago was appointed deputy governor of the bank in 2011 after working as Director General of the National Treasury.
The president said he will bring his wide range of experience and expertise in global financial systems to bear on smooth operation of the bank. He also commended out-going governor for leading the bank through very challenging moments.