The Prudential Committee was established in terms of the Financial Sector Regulation Act and is responsible for general oversight of the management and administration of the PA to ensure that it is effective and efficient. Members of the Prudential Committee are the governor and deputy governors of the SARB and the chief executive officer of the PA.
Mr E L (Lesetja) Kganyago | Governor
Mr Lesetja Kganyago is the Governor of the SARB, Chairperson of the Prudential Committee as well as a member of the Monetary Policy Committee. Prior to his appointment as Governor, Mr Kganyago served as Deputy Governor of the SARB. Mr Kganyago is currently Chairperson of the International Monetary and Financial Committee (IMFC), which is the primary advisory board to the IMF Board of Governors. Mr Kganyago also chairs the Committee of Central Bank Governors of SADC, co-chairs the Financial Stability Board’s Regional Consultative Group for Sub-Saharan Africa, and chairs the Financial Stability Board’s Standing Committee on Standards Implementation.
Before joining the SARB, Mr Kganyago was the Director-General of National Treasury. He represented South Africa in international organisations such as the World Bank, the IMF, the G20 and the African Development Bank. In this role, he served as the Chair of the Development Committee Deputies and co-chaired a G20 working group on the reform of the IMF.
He holds a Master of Science degree in Economics from SOAS, London University, and a Bachelor of Commerce degree in Economics and Accounting from the University of South Africa. He also received various training in finance, economics and management.
Mr K (Kuben) Naidoo | Deputy Governor
Mr Kuben Naidoo is a deputy governor of the SARB and the Chief Executive Officer of the Prudential Authority. He is a member of the Prudential Committee and a member of the Monetary Policy Committee. He is an activist and a public servant committed to the achievement of a socially just society.
Prior to joining the SARB, Mr Naidoo served as the Acting Head of the Secretariat for the National Planning Commission between 2010 and 2013. Mr Naidoo also worked at National Treasury where his responsibilities included education finance, public sector personnel policy, intergovernmental fiscal relations, capital budgeting, budget reform and fiscal policy. He spent two years at the Treasury of the United Kingdom where he worked on capital budgets and biannual spending reviews.
Mr Naidoo holds a Bachelor of Science degree and a Postgraduate Diploma in Public Management from the University of the Witwatersrand as well as a Master of Business Administration from the University of Birmingham in the United Kingdom.
Ms N (Fundi) Tshazibana | Deputy Governor
Ms Fundi Tshazibana is a deputy governor of the SARB, a member of the Prudential Committee and a member of the Monetary Policy Committee. Before her appointment, she served as the advisor to the governors of the SARB and a member of the Monetary Policy Committee. Ms Tshazibana is an economist with extensive experience in public policy analysis and formulation and has worked for National Treasury, the National Energy Regulator of South Africa (Nersa) and the IMF.
At the IMF, she was an alternate executive director on the Executive Board, which runs the day-to-day operations of the IMF. Before joining the IMF, Ms Tshazibana was a deputy director-general at National Treasury, where she was responsible for macroeconomic policy and economic forecasting. At Nersa, she served as a senior policy analyst.
Ms Tshazibana holds a Master of Commerce degree in Economics and a Bachelor of Economics (Honours) degree from the University of KwaZulu-Natal.
Dr R (Rashad) Cassim | Deputy Governor
Dr Rashad Cassim is a deputy governor of the SARB and a member of the Prudential Committee and Monetary Policy Committee. He has recently been appointed Chairperson of the Irving Fischer Committee on Central Bank Statistics under the auspices of the Bank for International Settlements.
Before his appointment as a deputy governor, Dr Cassim was the Head of Economic Research and Statistics and a member of the Monetary Policy Committee.
Before joining the SARB, Dr Cassim served as the Deputy Director-General responsible for economic statistics at Statistics South Africa, with the responsibility of producing the country’s economic statistics, including those for inflation and gross domestic product. Before that, he was Professor and Head of the School of Economics and Business Sciences at the University of the Witwatersrand. Dr Cassim has held various research and academic positions at the University of Cape Town (UCT).
Dr Cassim holds a Doctor of Philosophy degree in Economics and a Master’s degree in Economic History from UCT.
As part of its day-to-day activities, the PA set up the following technical governance structures which serve as internal advisory structures to the chief executive officer of the PA: Policy Panel, Licensing Panel, Restructures and Expansions Panel, PA Regulatory Action Committee, Risk and Capital Review Panel, Conversions Panel and Designation Panel.