Kganyago's reappointment will keep SA's financial system stable - Banking Association of SA

JOHANNESBURG - The Banking Association of South Africa says the reappointment of Lesetja Kganyago as the Reserve Bank governor is an important signal as it shows stability in the country's finanical system.

Kganyago's term was extended by President Cyril Ramaphosa on Friday along with that of Nomfundo Tshazibana and Rashad Cassim, who retained their positions as deputy governors for the next five years.

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The banking association says this will sustain confidence in South Africa as the country heads for elections.
 
It says Kganyago's leadership has kept the country's financial system stable, and his reappointment maintains South Africa's commitment to responsible monetary policy and good management of the country's reserves.
 
The association has also congratulated Mampho Modise who was appointed as deputy governor after the departure of Kuben Naidoo.
 
Modise is currently deputy director-general in the National Treasury.