The South African Reserve Bank Act provides for the president to appoint the governor of the Sarb, three deputy governors and four directors.
South African Reserve Bank Governor Lesetja Kganyago. Picture: Thobile Mathonsi / African News Agency
The Presidency announced on Friday afternoon that president Cyril Ramaphosa made the appointments in line with section 4 , read with section 5 of the South African Reserve Bank Act after consultations with the minister of finance and the board of directors of the South African Reserve Bank . Ramaphosa also appointed Dr Mampho Modise as the new deputy governor of the Sarb for a period of five years starting on 1 April 2024 after the end of term of office for former deputy governor Kuben Naidoo in 2023. The president expressed his gratitude to Naidoo for his contribution to the Reserve Bank and wishes Modise well in her new role.
She was soon promoted to director of fiscal policy and then to chief director for strategy and risk management in the asset and liability management division of Treasury. In 2017 she was promoted to the position of deputy director-general.
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