Ramaphosa extends SA Reserve Bank Governor Lesetja Kganyago's term for another 5 years

CAPE TOWN - Lesetja Kganyago will stay on for another five-year term as South African Reserve Bank governor when his current term ends in November.

President Cyril Ramaphosa said Kganyago’s reappointment will ensure continuity and institutional stability at the central bank. 

He has also appointed Mampho Modise as the new deputy governor of the Reserve Bank, following the departure of Kuben Naidoo in 2023.

Modise, who is currently the deputy director general of Public Finance at National Treasury, will take up the job on 1 April for the next five years. 

Modise started her career as an intern at the Reserve Bank in 2004.

Ramaphosa has also reappointed Nomfundo Tshazibana and Rashad Cassim for another five-year term as the bank’s other deputy governors, effective 1 August 2024.