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Pretoria - The appointment of Lesetja Kganyago as new SA Reserve Bank governor will ensure a smooth transition after the departure of the incumbent, Gill Marcus, the African National Congress said on Monday.
"His appointment will assist the organisation to continue its work and mandate without any disruption as he had been one of the two deputy governors to the outgoing governor," ANC spokesperson Zizi Kodwa said in a statement.
He said Kganyago brought with him the experience he had gained, and diligence he had shown, during his tenure as director general of the national Treasury, and deputy Sarb governor.
"We believe that under his stewardship we will see an effective reserve bank that has always been key in our prudent fiscal management that has always generated impactful interventions," said Kodwa.
President Jacob Zuma announced Kganyago's appointment at the Union Buildings in Pretoria on Monday. Marcus leaves on November 8.
The ANC thanked Marcus for her contribution.
Put the people first
The SA Communist Party called on Kganyago to put the needs of the people first.
The party looked forward to working with the Sarb to achieve transformation of the financial sector, SACP spokesperson Alex Mohubetswane said in a statement on Monday
"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."
The SACP thanked Marcus for her contribution.
