Board of Directors Biographies

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Executive directors 
 

Mr E L (Lesetja) Kganyago | Governor 
Chairperson of the Board
Chief Executive Officer (CEO) of the SARB

Appointed | 9 November 2014 and reappointed for a second five-year term on 9 November 2019.

Responsibilities | Executive Management Department, Communications Division, Strategy Management Office, Internal Audit and Economic Research departments, and the Human Capital and Operations Cluster.

Experience | Served as Director-General of National Treasury from 2005 until his appointment as a Deputy Governor of the SARB from 16 May 2011 to 8 November 2014. Represented South Africa in international organisations, including the World Bank, the Group of 20 (G20) and the African Development Bank. In addittion, Until recently he served as the Chairperson of the International Monetary and Financial Committee, which is the primary advisory board to the International Monetary Fund (IMF) Board of Governors, from 18 January 2018 – 17 January 2021 

Other current roles |
Chairperson of the Committee of Central Bank Governors of the Southern African Development Community.
Chairperson of the Financial Stability Board’s (FSB) Standing Committee on Standards Implementation.
Co-chairperson of the FSB’s Regional Consultative Group for Sub-Saharan Africa. 

Awards |
Governor of the Year in the Central Banking Awards (March 2018).
Doctor of Commerce, honoris causa, awarded by Stellenbosch University in December 2018.
Leadership in Practice Award in the 2019 University of South Africa (Unisa) Graduate School of Business Leadership.

Mr K (Kuben) Naidoo | Deputy Governor
CEO of the Prudential Authority

Appointed | 1 April 2015 and reappointed for a second five-year term on 1 April 2020. 

Responsibilities | The Prudential Authority and the Financial Surveillance Department. 

Experience | Headed the Budget Office at the National Treasury in South Africa from 2006 to 2010, including a two-year stint at Her Majesty’s Treasury in the United Kingdom (working in the Budget Division). Headed the Secretariat of the National Planning Commission of South Africa between 2010 and 2013. Served as Advisor to the Governor from 1 April 2013 to 21 March 2015.

Ms N (Fundi) Tshazibana | Deputy Governor 
Chairperson of the Corporation for Public Deposits

Appointed | 1 August 2019 for a five-year term. 

Responsibilities | Financial markets and International eceonomic relations and policy Cluster

Experience | Extensive experience in public policy analysis and formulation, having worked at the National Energy Regulator of South Africa, the National Treasury (Head of the Economic Policy and Forecasting Division and Deputy Director-General), and Alternate Executive Director at the IMF. Represented South Africa and 22 Sub-Saharan African countries at the Africa Group 1 Constituency Office. Served as Advisor to the Governor from February 2018 to 31 July 2019.Served as Advisor to the Governor from xx February 2018 to 31 July 2019.

Other current roles |
Chairperson of the Market Practitioners Group and the Financial Markets Liaison Group
Chairperson of the Deputies of the IMFC for a term ending 2020/21.

Dr R (Rashad) Cassim | Deputy Governor 

Appointed | 1 August 2019 for a five-year term. 

Responsibilities | Financial stability, economic statistics and National Payment System departments, the Risk Management and Compliance Department, the Financial Technology Unit and the Currency cluster.

Experience | Hedead the SARB’s former Economic Research and Statistics Department from 1 March 2011, responsible for macroeconomic statistics, research, analysis and forecasts. Previously served as the Deputy Director-General at Statistics South Africa (responsible for economic statistics), a professor and Head of the School of Economics and Business Sciences at the University of the Witwatersrand (Wits), head of the Trade & Industrial Policy Strategies (a think tank), and held various research positions at the University of Cape Town.

Other current roles |
Chairperson of the international Irving Fisher Committee on Central Bank Statistics within the Bank for International Settlements for a three-year period effective 12 September 2019.

 

Non-executive directors 
 

Ms Lerato Molebatsi  | Government

Government appointed | April 2019

Qualifications | Bachelor of Arts (BA) degree and has completed various certificates.

 Experience | Government affairs and policy, communication, public affairs, leadership and strategy. Former CEO of a multinational company, has held positions in financial services companies such as Sanlam and Old Mutual and now serves on the board of an infrastructure company in South Africa and Kenya. Has knowledge and skills in financial services, labour, transport, mining and corporate governance as a non-executive director.

 

Prof Nicholas Vink  | Agriculture

Shareholder elected | July 2016 and re-elected in July 2019.

Qualifications | Doctorate (PhD) in Agricultural Economics. 

Experience | A non-executive director on the Rooibos Ltd board and current President of the International Association of Agricultural Economists (2018 to 2021). Has knowledge and skills in agriculture.

 

Mr Firoz Cachalia  | Government 
Chairperson of the Board Risk and Ethics Committee 

Government appointed | July 2012, reappointed in 2015 and in 2018 for a final three-year term.

Qualifications | Bachelor of Laws, Master of Laws, BA and BA (Hons) degrees, and higher diploma in Company Law.

Experience | Admitted as an attorney, is an adjunct professor at Wits University’s School of law and participates on the boards of various organisations.

 

Dr Terence Nombembe  | Government

Government appointed | July 2014 and reappointed in July 2017. 

Qualifications | Chartered Accountant (CA SA), Bachelor of Accounting Science (Hons), Bachelor of Commerce degrees, and awarded an Honorary Doctorate in Accounting Science by the Walter Sisulu University.

Experience | Served as Auditor-General of South Africa (2006 to 2013) and as CEO of the South African Institute of Chartered Accountants to November 2018, when he joined the State Capture Commission as Head of Investigations.

 

Dr Charlotte du Toit  | Industry

Shareholder elected | July 2016 and re-elected in July 2019. 

Qualifications | PhD in Econometrics.

Experience | Served as a professor of Economics at the University of Pretoria. Has knowledge and skills in industry.

 

Dr Yvonne Muthien  | Commerce or Finance 
Chairperson: Remuneration Committee 

Shareholder elected | July 2018

Qualifications | PhD in Sociology and Politics from Oxford University, and Master of Arts and BA (Hons) cum laude degrees.

Experience | Former CEO of Sanlam Group Services and Vice President of Coca-Cola Africa. Has knowledge and skills in commerce and finance.

 

Mr Norman Mbazima | Mining

Board appointed | 1 August 2020

Qualifications | Fellow of the Association of Chartered Certified Accountants (FCCA) 
                           Fellow of the Zambia Institute of Chartered Accountants (FZICA)

Experience | Mr Mbazima has seventeen years’ experience as a professional accountant with Deloitte & Touche and was the partner for services to the Bank of Zambia and mostly to the mining industry in Zambia. Served as Chief Financial Officer (CFO) and Chief Executive (CEO) at Anglo America . Currently the Chairman of both Anglo America Platinum Ltd and Zambia Sugar Plc and serves on other boards of directors and is a Trustee of Malaria No More UK. Has knowledge and skills in mining.

 

 

Ms Tryphosa Ramano | Commerce or Finance

Shareholder elected |  1 August 2020

Qualifications | CA (SA), Postgraduate Diploma: Accounting and Bachelor of Accounting. 

Experience | Currently self-employed and serves on boards of directors, including the International Women’s Forum – South Africa (IWFSA) and the Solidarity Fund and chairs the audit and risk committees of both the IWFSA and the Solidarity Fund.  Served as the CFO of PPC Limited, WIPHOLD, and SAA and was the Chief Director, Asset Liability at the National Treasury.  She has knowledge and skills in commerce or finance.  

 

Mr Zoaib Hoosen  | Industry

Shareholder elected | July 2019

Qualifications | Bachelor of Science and Master of Business Administration (MBA) degrees, and completed the Management Advancement Programme at Wits Business School.

Experience | 30 years’ experience in the information and communications technology industry and former Managing Director of Microsoft South Africa. Currently an adjunct faculty member of the Gordon Institute of Business Science (GIBS) Business School, a member of the GIBS Advisory Board and advises businesses on their digital transformation. Has knowledge and skills in industry.

 

Ms Shamima Gaibie | Labour

Board appointed | 1 August 2020

Qualifications | BA and Bachelor of Law (BA LLB), Masters Degree in Law (LLM), Qualified Lawyers Transfer Test UK

Experience |  An admitted attorney and who lecturered of Law and is currently a Director and Head of the Labour Law Department at Cheadle Thompson & Haysom Inc Attorneys. She has knowledge and skills in labour. 

 

Ms Dudu Msomi | Government 

Government appointed | 1 July 2020

Qualifications | BA (Hons), Postgraduate Diploma in Advertising and Marketing, Postgraduate Diploma in Corporate Governance, and MBA from GIBS

Experience |  Founder and Chief Executive, Busara Leadership Partners, Adjunct Faculty Member, GIBS, Supervisor, GIBS MBA Management Consulting and independent non-executive director on various boards. Fellow at the Institute of Directors in South Africa. She has skills and knowledge in, inter alia, corporate governance, strategy formulation and leadership development.