New Reserve Bank Governor appointed

President Jacob Zuma announced this morning that SA Reserve Bank (SARB) deputy governor *Lesetja Kganyago* will take over from governor Gill Marcus, which is a relief as rumour had it, that the poition will be filled with one of his goons to indebt the country in favour of the Russian Nuclear deal.

As the majority of the analysts had prayed and predicted Kganyago, a deputy governor who has also served as director general at the finance ministry, would get the post, ahead of fellow deputy governor Daniel Mminele. Kganyago served as SARB director general since 2011, and Treasury DG before this (2004-11). The widely-respected Marcus, who guided South Africa through a turbulent five years since the global financial crisis, ends her term on November 8. She said she had advised the president some time ago that she would not be available for renewal. “I think the bank has an outstanding team of leadership, both in the executive, monetary policy, leadership, management of the bank. “Therefore, I’m quite comfortable saying that I’m very happy that whoever the president chooses to succeed as the next governor will continue with the strength of this institution and do an excellent job,” she said.

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