Board Members Biographies


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Board Members 

Mr K (Kuben) Naidoo | Deputy Governor

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

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 | 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.He 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.

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

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

Responsibilities | The Prudential Authority and the Financial Surveillance Department. 

Experience | 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.

Other 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 Hendrik Nel | Interim CEO CODI 

Qualifications: DCom in Economics, Money and Banking

Experience: Dr Hendrik Nel is the Interim Chief Executive Officer of the Corporation for Deposit Insurance (CODI) at the South African Reserve Bank (SARB).  With 27 years’ experience in central banking, his roles have included heading the SARB’s Financial Stability Department for seven years. He was also a member of the Financial Stability Committee (FSC) in the SARB, and has served on the Financial Stability Oversight Committee (FSOC) and the Financial Sector Contingency Forum (FSCF).  

Prior to joining the SARB, he worked in the International Division of the now defunct Volkskas Bank and lectured in Money and Banking at the University of the Free State.

Dr Nel is a fellow of the Institute of Bankers of South Africa. He has authored several financial publications and presented papers at various conferences and seminars.

Ms Shoki Ralebepa  | SARB
Group Chief Financial Officer 

Qualifications: CA(SA), BCom Accounting (Hons), University of South Africa

Experience:  Shoki was appointed as the Group Chief Financial Officer for the South African Reserve Bank (SARB) on 1 September 2021, with the responsibility to lead, provide strategic direction and guide all financial functions of the SARB, which includes the SARB parent organisation, the South African Banknote Company (SABN) and South African Mint Company (South African Mint).

In her previous role with the Small Enterprise Finance Agency (SEFA), she served as Chief Financial Officer and was responsible for overseeing financial sustainability and supply chain management. In her six years at SEFA, the agency received unqualified clean audits. She also achieved a clean audit from the Auditor-General for the implementation of COVID-19 programmes and for the R6 billion in funds raised through the Small Business Innovation Fund, Township Rural Entrepreneurial Fund and Tourism Equity Fund. While at SEFA she also acted as Chief Executive Officer for a brief period. She previously served as an independent board member for Ellies Holdings, the Gautrain Management Agency and Railway Safety Regulator.


While at J Walter Thomson South Africa, she served on three boards and provided strategic direction to three business units, namely Finance, Information Technology and Payroll. She was also self-employed for a brief period and her major clients were Roche, Siyaya TV and Bakgatla Bakgafela Holdings.

Mr Unathi Kamlana  | FSCA

Qualifications: MCom in Taxation, Rhodes University, and  MSc in Finance (Economic Policy), University of London (SOAS)

Experience: Unathi Kamlana has been the Commissioner of the Financial Sector Conduct Authority (FSCA) since 1 June 2021. Prior to this, he held various senior roles in financial sector policy and regulation, including as Chief Director: Financial Markets and Stability at the National Treasury, Deputy Registrar of Banks at the South African Reserve Bank (SARB), and Head: Policy, Statistics and Industry Support at the Prudential Authority.

Unathi has also served on various regulatory forums, including as a member of the Policy Development Group (PDG) of the Basel Committee on Banking Supervision (BCBS) and the Policy Development Committee (PDC) of the International Association of Insurance Supervisors (IAIS). He is a member of the Regional Consultative Group for Sub-Saharan Africa of the Financial Stability Board (FSB).


Mr Vukile Davidson  | National Treasury
Chief Director Financial Markets and Stability 

Qualifications: MSc in Development Economics and Finance, University of London (SOAS)

Experience: Having begun his career in financial markets within Standard Bank’s Investment Banking Division, Vukile subsequently moved to the National Treasury. While at National Treasury, Vukile has worked on various key financial sector legislative reforms, including South Africa’s resolution framework, as well as on policy issues as diverse as climate change and financial innovation. Vukile’s current responsibilities include financial stability, prudential regulation, market integrity and capital flows management. Vukile has also worked at the Financial Stability Board in Basel, Switzerland, where he focused on topics including ‘Challenges facing SMEs’ and work to address ‘The decline in correspondent banking services’, with a specific focus on the Americas, Middle East and North Africa (MENA), and Asia.



Ms Bongi Kunene  | BASA
Managing Director 


Qualifications: MSc in Development Economics, University of London

EXPERIENCE:  Bongi is the Managing Director of the Banking Association South Africa. She assumed this position in March 2020.
Prior to that, Bongi was the Pan-African Head of Public Sector Banking for the Standard Bank Group where she had responsibility for strategic direction of the business in 15 African countries, including South Africa.

Her career has included a role as the Executive Director at the World Bank Group in Washington, DC. In that capacity, she served on the board representing South Africa, Nigeria and Angola. 

Bongi has served in the South African Government spheres in different capacities, including The Presidency, the Gauteng Provincial Government’s Finance and Economic Affairs, and National Treasury.


Mr André Bezuidenhout  | 
Independent Director 

Qualifications: CA(SA), BCompt (Hons), BSc (Hons), CISA, CIA, Advanced Diploma in Treasury Management

Experience: André is a retired central banker who consults in the fields of governance, risk management, compliance, internal auditing and financial regulation policy. 

At retirement, he was Head of the Risk Management and Compliance Department and Chief Risk Officer of the South African Reserve Bank (SARB).  Previous positions held with the SARB include Head of the Financial Stability Department, Deputy Head of the then Bank Supervision Department, and Chief Internal Auditor of the SARB. 

André has 42 years of local and international experience in external, internal and computer auditing; financial regulation and supervision; and governance and enterprise risk management.