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The SARB management team

All powers and authorities not vested in the Board vest in the Governor and Deputy Governors, who are responsible for the management of the Bank.

Since 1921, the SARB has been served by 10 Governors. The Governor also acts as the Chairperson of the Monetary Policy Committee, Financial Stability Committee, Prudential Committee and Governors’ Executive Committee. All Deputy Governors also sit on these committees.

Governors

Mr E L (Lesetja) Kganyago
Governor

Dr R (Rashad) Cassim
Deputy Governor

Ms Nomfundo (Fundi) Tshazibana
Deputy Governor and
CEO: Prudential Authority

Dr M (Mampho) Modise
Deputy Governor

The GEC is responsible for day-to-day decision making at the SARB.

Its members are as follows:

Mr E L (Lesetja) Kganyago
Governor
Dr R (Rashad) Cassim
Deputy Governor
Ms Nomfundo (Fundi) Tshazibana
Deputy Governor and CEO of the Prudential Authority
Dr M (Mampho) Modise
Deputy Governor
Mr Mogam Pillay
Chief Operating Officer
Mr Pradeep Maharaj
Group Executive: Currency Management

Click here for the GEC members biographies.

Mr E L (Lesetja) Kganyago
Governor

Dr R (Rashad) Cassim
Deputy Governor

Ms Nomfundo (Fundi) Tshazibana
Deputy Governor and
CEO: Prudential Authority

Dr M (Mampho) Modise
Deputy Governor

Mr Mogam Pillay
Chief Operating Officer

Chris van der Walt
General Counsel

Mr Pradeep Maharaj
Group Executive: Currency Management

The Monetary Policy Committee (MPC) is responsible for deciding on the appropriate monetary policy stance. The MPC meetings are chaired by the Governor of the Bank. It currently consists of five members of the Bank: the Governor, three Deputy Governors and one senior official of the Bank.

Its members are as follows:

Mr E L (Lesetja) Kganyago
Governor
Dr R (Rashad) Cassim
Deputy Governor
Ms Nomfundo (Fundi) Tshazibana
Deputy Governor and CEO of the Prudential Authority
Dr M (Mampho) Modise
Deputy Governor
Dr Christopher Loewald
Head: Economic Research Department

Click here for the Monetary Policy Committee members biographies

Mr E L (Lesetja) Kganyago
Governor

Mr K (Kuben) Naidoo
Deputy Governor

Ms Nomfundo (Fundi) Tshazibana
Deputy Governor and
CEO: Prudential Authority

Dr R (Rashad) Cassim
Deputy Governor

Dr Christopher Loewald
Head: Economic Research Department

The main function of the Financial Stability Committee is to consider periodic conjunctural and cyclical assessments of risks to the broad financial system, and to consider, initiate and monitor possible steps to mitigate them. Another logical function of the committee is to consider periodic qualitative assessments of the financial system’s inherent strength against objective standards such as the Financial Stability Board’s (FSB) “Twelve Standards” framework, and against the generic objectives of stability, efficiency and fairness. In late 2010, the SARB decided to elevate and reconstitute its Financial Stability Committee to a level equal to and alternating with the Monetary Policy Committee meetings.

Its members are as follows:

Mr E L (Lesetja) Kganyago
Governor and Chairperson
Mr K (Kuben) Naidoo
Deputy Governor
Ms Nomfundo (Fundi) Tshazibana
Deputy Governor and CEO of the Prudential Authority
Dr R (Rashad) Cassim
Deputy Governor
Dr Christopher Loewald
Head: Economic Research Department
Dr Nicola Brink
Head: Financial Stability Department
Mr Tim Masela
Head: National Payment System Department
Mr Charles Nevhutanda
Acting Head: Financial Surveillance Department
Ms Olaotse Matshane
Head: Policy, Statistics and Industry Support Department
Mr Denzel Bostander
Head: Financial Conglomerate Supervision Department
Mr Faizel Jeena
Head: Specialist Risk Support Department
Mr Kerwin Martin
Head: Banking and Insurance Supervision

Click here for the Financial Stability Committee members biographies.

Mr E L (Lesetja) Kganyago
Governor and Chairperson

Mr K (Kuben) Naidoo
Deputy Governor

Ms Nomfundo (Fundi) Tshazibana
Deputy Governor and
CEO: Prudential Authority

Dr R (Rashad) Cassim
Deputy Governor

Dr Christopher Loewald
Head: Economic Research Department

Dr Nicola Brink
Head: Financial Stability Department

Mr Tim Masela
Head: National Payment System Department

Mr Charles Nevhutanda
Acting Head: Financial Surveillance Department

Ms Olaotse Matshane
Head: Policy, Statistics and Industry Support Department

Mr Denzel Bostander
Head: Financial Conglomerate Supervision Department

Mr Faizel Jeena
Head: Risk Support Department

Ms Suzette Vogelsang
Head: Banking, Insurance and FMI Supervision Department

The Prudential Committee oversees the management and administration of the Prudential Authority to ensure that it is efficient and effective. It acts on behalf of the Prudential Authority by:

authorising the CEO to sign Memoranda of Understanding;
delegating of powers to the Financial Sector Conduct Authority (FSCA);
adopting the implementation of the regulatory strategy of the Prudential Authority, as well as administrative procedures;
appointing members of subcommittees;
making prudential or joint standards and other regulatory instruments;
determining fees; and
overseeing the implementation of any other matter assigned to the Prudential Authority in terms of a financial sector law.

Its members are as follows:

Mr E L (Lesetja) Kganyago
Governor and Chairperson
Mr K (Kuben) Naidoo
Deputy Governor
Ms Nomfundo (Fundi) Tshazibana
Deputy Governor and CEO of the Prudential Authority
Dr R (Rashad) Cassim
Deputy Governor
Mr Denzel Bostander
HOD: Financial Conglomerate Supervision
Mr Faizel Jeena
HOD: Risk Support
Mr Kerwin Martin
HOD: Banking and Insurance
Ms Olaotse Matshane
HOD: Policy, Statistics and Industry Support
Ms Bonisile Ntutela
Divisional Head: Policy, Statistics and Industry Support Department