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Ramaphosa meets with the SARB Council on the vacant deputy governor

President Cyril Ramaphosa met with the management of the Reserve Bank of South Africa (SARB) on Friday, said the presidency in a statement.

The meeting, which took place at the Sefako Makgatho Presidential Guesthouse in Tshwane, was convened to discuss the vacancies that appeared in the leadership of the central bank.

Free positions concern the resignation of Deputy Governor Francois Groepe in January this year and the expiration of the term of office of Deputy Governor Daniel Mminele at the end of June.

The legislative term of the governor of Lesetia Kganyago also expires in November 2019. We read in a statement.

"According to the South African Reserve Bank Act, the Bank is managed by a management board composed of 15 directors, including the president, three deputy governors and three other directors, all of whom are appointed by the president after consultation with the minister of finance and management – said the presidency.

"The president welcomed the commitment to the board and will follow his recommendations. The chairman confirmed his commitment to protect the high reputation that SARB enjoys in the international financial community and financial markets, and is committed to providing high-level caliber directors … are called. "

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