Lesetja Kganyago sitting pretty at the Reserve Bank
Kganyago, appointed governor during Zuma's second term, is the last man standing of the old Treasury order
The unsettling change of the guard at the Treasury following the cabinet reshuffle recently is unlikely to affect Reserve Bank governor Lesetja Kganyago, who was emphatic about the security of his position this week. "I'm appointed for five years, I must act independently. You can't just come and wake up one day and say I want my own governor, I'm getting rid of this one. It doesn't work that way," Kganyago said on the sidelines of the Reserve Bank's monetary policy forum in Soweto on Tuesday. "The Reserve Bank Act does not provide for the removal of the governor just because you want to remove the governor." President Jacob Zuma's abrupt firing of former finance minister Pravin Gordhan and his deputy Mcebisi Jonas in a midnight cabinet reshuffle two weeks ago led to the country's first credit-rating downgrade since the turn of the century and stoked fears that a campaign to capture important state institutions was under way.The resignation of Treasury director-general Lungisa Fuzil...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.