Put people first: SACP

The party looked forward to working with the SARB to achieve transformation of the financial sector, SACP spokesman Alex Mohubetswane said in a statement.

 

"The SACP expects Mr Kganyago to lead the Reserve Bank with the interests of the people first, as opposed to private financial interests which are driven by the profit motive and banking models that cause crisis as we have seen with the implosion of the world economy and recently African Bank."

 

President Jacob Zuma announced Kganyago's appointment at the Union Buildings in Pretoria on Monday. Incumbent governor, Gill Marcus leaves on November 8.

 

The SACP congratulated Kganyago and thanked Marcus for her contribution.