South Africa Government

07/11/2019 | Press release | Distributed by Public on 07/11/2019 01:47

Minister Tito Mboweni appoints Reserve Bank and Public Investment Corporation Board members

PIC and SARB Board of Directors' appointments

The Minister of Finance, Mr Tito Mboweni, after consultation with Cabinet, has appointed an Interim Board of Directors (BoD) at the Public Investment Corporation (PIC). The appointment shall be effective 12 July 2019 to 31 July 2020. The Chairperson and Deputy Chairperson shall be elected at the first meeting to be convened by the Interim BoD. The members of the Interim BoD are as follows:

Ms Sindi Mabaso - Koyana
Ms Irene Charnley
Ms Tshepiso Moahloli
Ms Maria Ramos
Ms Barbara Watson
Mr Ivan Fredericks
Mr Zola Saphetha
Mr Bhekithemba Gamedze
Dr Angelo David Sabelo de Bruin
Prof Bonke Dumisa
Advocate Makhubalo Ndaba
Dr Reuel Khoza

Re-appointment of PIC board members

Mr Pitsi Moloto
Dr Xolani Mkhwanazi

Re-appointment and appointments at the South African Reserve Bank

On the South African Reserve Bank (SARB), President Cyril Ramaphosa, after consultation with the Minister of Finance and the Board of Directors of the SARB, has re-appointed Mr Lesetja Kganyago to serve as Governor of the SARB for another five years, effective from 9 November 2019. Mr Kganyago's current term expires on 8 November 2019.

The President has, also after consultation, appointed Ms Fundi Tshazibana and Dr Rashad Cassim as Deputies Governor of the SARB for a period of five years each, effective 1 August 2019.

Ms Tshazibana is currently the Adviser to the Governors of the SARB and holds a Master's of Commerce degree in Economics, while Dr Cassim is currently Head of Economic Research and Statistics at the SARB, and holds a PhD in Economics.

Minister Mboweni said of the appointments: 'We congratulate the appointees and look forward to working with them. We need not remind them of the tough economic and fiscal circumstances facing South Africa at the current moment. They have my full support and confidence that they will take South Africa forward as we move to bring development to our people.'

Ntsakisi Ramunasi
Cell: 083 646 6935