Groepe reappointed to Sarb deputy governor

Cape Town - Francois Groepe, former managing director and chief executive officer of Media24, has been reappointed to the position of deputy governor of the South African Reserve Bank (Sarb). 

President Jacob Zuma on Friday issued a statement, saying Groepe has been reappointed for another five-year term with effect from 1 January 2017. 

“Mr Groepe was first appointed Deputy Governor of Sarb in January 2012 for a five year term ending on 31 December 2016," the statement read. 

His involvement at the Reserve Bank dates back to July 2004 when he was appointed as a non-executive director. 

“Mr Groepe is currently the Chairperson of both the South African Bank Note Company and the South African Mint Company (SA Mint),” the statement read. These institutions are subsidiaries of the Sarb that produce the South African rand as well as currencies of other countries.

Groepe has extensive financial and managerial experience and holds BCom (Hons), MBA and LLB degrees, as well as a Postgraduate Diploma in Tax Law. 

The president wished Groepe well in his next term at the Sarb.