Lesetja Kganyago ‘won’t disappoint’ as new Reserve Bank governor

2014-10-06 11:55

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Incoming Reserve Bank governor Lesetja Kganyago is well-respected, and his current role as deputy governor will ensure a smooth transition, President Jacob Zuma has said.

Kganyago takes the reins from outgoing governor Gill Marcus on November 9.

Explaining his choice of Marcus’ successor at a briefing attended by Finance Minister Nhlanhla Nene, his deputy Mcebisi Jonas and Marcus, Zuma said Kganyago had wide-ranging experience in financial markets, earning him respect in the field.

“Incidentally, [Kganyago] worked at the Reserve Bank as assistant manager for investment dealing in 1994 which gave him an insight into what is happening at the lower levels,” said Zuma.

Kganyago said the position of the governor “is at the apex of the public service”, and thanked the president and Nene for entrusting it to him.

“I’ve got no doubt that eyes will be on me and I want to say I will not disappoint,” he was quoted as saying by Sapa.

Marcus thanked Zuma for choosing her successor from within the bank.

“It is a reflection ... of the choice we have ... in the bank,” she said, adding that she wished him well.

“You’re going to have an amazing experience and you have a wonderful team to work with,” said Marcus.

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