SA Reserve Bank governor Lesetja Kganyago said he would be available to serve another five years at the helm of the central bank when his first term runs out in November 2019 — if he is asked to. Kganyago was appointed by former president Jacob Zuma almost four years ago and another term will extend his stay as head of the Bank until 2024. The governor and his three deputies are appointed by the president for a fixed five-year term and legislation makes no provision for their removal. "If the appointing authority tells me that somebody else could do the job, it is in the hands of the appointing authority," Kganyago said in an interview from his office in Pretoria on Thursday. "That is why you are appointed for a fixed term, so that during that term you know that no-one will interfere with you." Credit-rating companies have continuously cited the central bank and its leadership as institutional strengths for SA, even as they cut the country’s rating to junk in 2017 when Zuma changed ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now