Kganyago replaces Marcus as new governor of Reserve Bank

JOHANNESBURG SOUTH – President Jacob Zuma announced on Monday October 6 that Lesetja Kganyago will take over as the new governor of the Reserve Bank next month.

Currently Lesetja Kganyago is a Deputy Governor of the South African Reserve Bank. He shares the position with Daniel Mminele and Francois Groepe. Kganyago has previously served as Director-General for the National Treasury.

Mr Kganyago is set to take up the post on November 9, replacing former governor Gill Marcus, who is retiring.

“I am truly honoured that the leadership of the country found that I will be suitable to execute this mammoth task. I will not disappoint … I don’t have to reinvent anything, I just have to carry on from where Ms Marcus left,” Mr Kganyago said.