DA wants to meet new SARB governor

The Democratic Alliance on Monday asked for a meeting with SA Reserve Bank governor-designate Lesetja Kganyago, just hours after the announcement of his appointment.

DA MP David Ross said there was no time to waste.

"Efforts must be made to arrest inflation, drive monetary policy conducive to fighting the effects of stagflation in the economy, and successfully implement reforms to address concerns regarding SARB oversight and monitoring, so as to avoid the failure of financial institutions such as in the case of African Bank," said Ross.

The party wanted to make "serious proposals" for improving national monetary policy to ensure economic growth targets were met.

The DA welcomed Kganyago's appointment.

"We wish the new governor the best during his tenure," said Ross.

President Jacob Zuma announced Kganyago's appointment at the Union Buildings in Pretoria on Monday. Current governor Gill Marcus's term ends on November 8.

Kganyago, who is one of two of Marcus's deputies alongside Daniel Mminele, would assume duties on November 9.

Addressing reporters following the announcement, he spoke highly of Marcus, describing her as a matriarch.

Kganyago vowed to deliver.

"I've got no doubt that eyes will be on me and I want to say, I will not disappoint," he said.

Marcus thanked Zuma for choosing her successor from within the bank.

"It is a reflection... of the choice we have... in the bank," she said, adding that she wished him well.

"You're going to have an amazing experience and you have a wonderful team to work with," said Marcus.

Zuma announced that processes were underway to fill one of the two deputy governor positions, which was now vacant.

"An announcement will be made in due course," he said.

 

(File photo: Gallo images)