President Cyril Ramaphosa has re-appointed Lesetja Kganyago as governor of the SA Reserve Bank. 

Kganyago’s current term expires on November 8, and his new five-year term will begin immediately after that, the National Treasury said in a statement on Wednesday afternoon. 

Ramaphosa made the decision after consulting with finance minister Tito Mboweni and the board of directors of the Bank. 

He also appointed Fundi Tshazibana and Rashad Cassim as deputy governors of the Bank for a period of five years each, effective August 1.

Both are currently employed at the Bank, with Tshazibana as the adviser to the governors, and Cassim the head of economic research and statistics. 

 “We congratulate the appointees and look forward to working with them. We need not remind them of the tough economic and fiscal circumstances facing SA at the moment,” Mboweni said in the statement. 

“They have my full support and confidence that they will take SA  forward as we move to bring development to our people.” 

- BusinessLIVE