SACP tells Lesetja Kganyago to put people first

2014-10-06 17:02

The SA Communist Party expects newly appointed SA Reserve Bank governor Lesetja Kganyago to put the needs of the people first.

SACP spokesperson Alex Mohubetswane today said the party looked forward to working with the SARB to achieve transformation of the financial sector.

“The SACP expects Mr Kganyago to lead the Reserve Bank with the interests of the people first, as opposed to private financial interests which are driven by the profit motive and banking models that cause crisis as we have seen with the implosion of the world economy and recently African Bank.”

Meanwhile, the ANC said Kganyago’s appointment would ensure a smooth transition after the departure of the incumbent, Gill Marcus.

“His appointment will assist the organisation to continue its work and mandate without any disruption as he had been one of the two deputy governors to the outgoing governor,” said ANC spokesperson Zizi Kodwa.

He said Kganyago brought with him the experience he had gained, and diligence he had shown, during his tenure as director general of the national Treasury, and deputy SARB governor.

“We believe that under his stewardship we will see an effective Reserve Bank that has always been key in our prudent fiscal management that has always generated impactful interventions,” said Kodwa.

President Jacob Zuma announced Kganyago’s appointment at the Union Buildings in Pretoria today. Marcus leaves on November 8.

The ANC and SACP thanked Marcus for her contribution.

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