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Johannesburg - President
Jacob Zuma has, in terms
of Section 4(1) (a) of the South African Reserve Bank Act, 1989
appointed
Francois Groepe as Deputy Governor of the South African
Reserve Bank (Sarb).
The appointment is for a five year term, with effect from
January 1, 2012, the presidency said in a statement on Monday.
Groepe has extensive financial and managerial experience,
holding the position as CEO of Media 24's Newspaper Division as well as
the position of Financial Director.
According to the statement, Groepe held a BCom (Hons), MBA and
LLB degrees, as well as a Postgraduate Diploma in Tax Law.
"Mr Groepe will be joining Governor
Gill Marcus and Deputy
Governors
Daniel Mminele and
Lesetja Kganyago, becoming the third Deputy
Governor of the SARB," the presidency said.
"President Zuma has congratulated Groepe and wishes him success in his new position," it added.