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 |
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 a member of the Monetary Policy Committee. He oversees the Financial Stability and Currency Cluster, which incorporates the SARB’s Economic Statistics Department, the National Payment System Department, the Fintech Unit, the Financial Stability Department, and the Risk Management and Compliance Department. He will also oversee the newly established Corporation for Deposit Insurance (CoDI).
Before the rotation of the deputy governors on 1 April 2022, Mr Naidoo oversaw the Prudential Cluster, and was the first Chief Executive Officer of the Prudential Authority upon its inception. Prior to his appointment as a deputy governor, he served as Adviser to the Governor of the SARB and as the Registrar of Banks.
Mr Naidoo is an activist and a public servant committed to achieving a socially just society. Before joining the SARB, Mr Naidoo was the Acting Head of the Secretariat for the National Planning Commission between 2010 and 2013. He 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 and
CEO: Prudential Authority
Ms Fundi Tshazibana is a deputy governor of the SARB, the CEO of the Prudential Authority and a member of the Monetary Policy Committee. The Prudential Authority regulates banks, insurers, cooperative financial institutions, financial conglomerates and certain market infrastructures.
As CEO of the Prudential Authority, Ms Tshazibana leads the Prudential Cluster of the SARB, which includes the Financial Surveillance Department and the departments within the Prudential Authority. Before the rotation of the deputy governors on 1 April 2022, she oversaw the Financial Markets and International Cluster.
Ms Tshazibana joined the SARB in 2018 as Adviser to the Governor and was appointed as a deputy governor in 2019 by the President. She is an economist with extensive experience in public policy formulation and analysis, having worked at multiple local and international institutions, including National Treasury, the National Energy Regulator of South Africa (NERSA) and the International Monetary Fund (IMF).
At the IMF, she was an alternate executive director on the Executive Board, which runs the day-to-day operations of the IMF. Prior to 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 worked as a senior policy analyst. She holds a Bachelor of Economics (Honours) degree and a Master of Commerce degree in Economics from the University of KwaZulu-Natal.
Dr R (Rashad) Cassim |
Dr Rashad Cassim is a deputy governor of the SARB and a member of the Monetary Policy Committee. He oversees the Financial Markets and International Cluster, responsible for financial markets, international economic relations and policy, and legal services.
Before the rotation of the deputy governors on 1 April 2022, he oversaw the Financial Stability and Currency Cluster. He also served as Chairperson of the Irving Fischer Committee on Central Bank Statistics within the Bank for International Settlements.
Prior to joining the SARB, Dr Cassim served as the Deputy Director-General for economic statistics at Statistics South Africa, which included responsibility for the production of inflation and gross domestic product statistics. Before that, he was a professor and Head of the School of Economics and Business Sciences at the University of the Witwatersrand. Dr Cassim has also held various research and academic positions at the University of Cape Town (UCT). He holds a Master's degree in Economic History and a Doctor of Philosophy degree in Economics 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.