Independence vital at Reserve Bank

Though Lesetja Kganyago’s appointment as the next governor of the South African Reserve Bank has been welcomed in business and financial circles, unions are not happy.

Kganyago’s previous association with labour federation Cosatu, where he was an accountant, has not earned him credit with the unions. In his years as director-general of the Treasury, and latterly as a deputy governor of the Reserve Bank, Kganyago has honed the skills that make him a good choice for the job.

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