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<p>The International Monetary Fund has downgraded the growth outlook and flagged concerns about emerging markets and their exposure to external debt. CNBC&#8217;s Geoff Cutmore asks the South African Reserve Bank Governor, Lesetja Kganyago, if this is a fair analysis of where the South Africa is at the moment.</p>


Lesetja Kganyago on SA’s external debt, downgrade fears

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<p>At the World Economic Forum on Africa in Cape Town, Sarb Governor Lesetja Kganyago spoke with CNBC Africa’s Chris Bishop about what the African Continental Free Trade Agreement (AfCFTA) means for the continent.</p>


World Economic Forum: Lesetja Kganyago on what Africa’s free trade agreement means for the continent

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<p>Recent troubles at South Africa&#8217;s electricity public utility Eskom have led to a revised outlook on the economy by Fitch ratings. For a discussion on the bank&#8217;s reaction to the latest downgrade and if the country&#8217;s monetary policy was ready for it, CNBC Africa&#8217;s Arnold Kwizera caught up with South African Reserve Bank (SARB) Governor, Lesetja Kganyago for more.</p>


How does Eskom downgrade affect monetary policy? A revised look at economic stability

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<p>The South African Reserve Bank held its annual general meeting today in Pretoria. The governor Lesetja Kganyago outlined the global and national economic challenges the country faces and reiterated the Reserve Bank’s position on nationalisation. CNBC Africa reporter Kopano Gumbi shares more details.</p>


Sarb nationalisation dominates AGM

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<p>Many have rejoiced at the reappointment of the Reserve Bank Governor, Lesetja Kganyago as it will ensure the SARB’s firm independence. Kganyago is serving his second five year term and CNBC Africa’s Fifi Peters spoke with him on his legacy.</p>


In conversation with Lesetja Kganyago on nationalising the Reserve Bank, growing the economy

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<p>Tertia Jacobs, Treasury Economist at Investec Corporate and Institutional Banking discusses the reappointment of Lesetja Kganyago as SARB governor and what this means for Eskom bond holders.</p>


What SARB’s Kganyago, deputy governors’ appointment means for bond holders

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<p>Tertia Jacobs, Treasury Economist at Investec Corporate and Institutional Banking discusses the reappointment of Lesetja Kganyago as SARB governor and what this means for Eskom bond holders.</p>


What Eskom bond holders urgently require


<p><em><strong>Press Release</strong></em>:  Issued by the Ministry of Finance Date: 10 July 2019  </p>



<p>The Minister of Finance, Mr Tito Mboweni, after consultation with Cabinet, has appointed an Interim Board of Directors (BoD) at the Public Investment Corporation (PIC). The appointment shall be effective 12 July 2019 to 31 July 2020. The Chairperson and Deputy Chairperson shall be elected at the first meeting to be convened by the Interim BoD. The members of the Interim BoD are as follows: </p>



<p>Ms Sindi Mabaso–Koyana, non-executive director of Eskom and Chairperson of AIH   <br>Ms Irene Charnley, former director at MTN and founder of Smile Group  <br>Ms Tshepiso Moahloli, chief director: liability management at Treasury    <br>Ms Maria Ramos, former CEO of Absa and  non-executive director of  AngloGold Ashanti   <br>Ms Barbara Watson, chief director of transformation policies at the Department of Public Service and Administration   <br>Mr Ivan Fredericks, general manager at PSA  <br>Mr Zola Saphetha,  General Secretary of NEHAWU  <br>Mr Bhekithemba Gamedze,  GEPF board of trustees    <br>Dr Angelo David <br>Sabelo de Bruin  <br>Prof Bonke Dumisa, economist   <br>Advocate Makhubalo Ndaba, company secretary of Platinum Hospitality Holdings   <br>Dr Reuel Khoza, former chairman of Nedbank and chairperson of  Platinum Hospitality Holdings   </p>



<p><strong>RE-APPOINTMENT OF PIC BOARD MEMBERS </strong></p>



<p>Mr Pitsi Moloto </p>



<p>Dr Xolani Mkhwanazi </p>



<p><strong>RE-APPOINTMENT AND APPOINTMENTS AT THE SOUTH AFRICAN RESERVE BANK</strong>  </p>



<p>On the South African Reserve Bank (SARB), President Cyril Ramaphosa, after consultation with the Minister of Finance and the Board of Directors of the SARB, has re-appointed Mr Lesetja Kganyago to serve as Governor of the SARB for another five years, effective from 9 November 2019. Mr Kganyago’s current term expires on 8 November 2019.   The President has, also after consultation, appointed Ms Fundi Tshazibana and Dr Rashad Cassim as Deputies Governor of the SARB for a period of five years each, effective 1 August 2019.   Ms Tshazibana is currently the Adviser to the Governors of the SARB and holds a Master’s of Commerce degree in Economics, while Dr Cassim is currently Head of Economic Research and Statistics at the SARB, and holds a PhD in Economics. </p>



<p>Minister Mboweni said of the appointments: “We congratulate the appointees and look forward to working with them. We need not remind them of the tough economic and fiscal circumstances facing South Africa at the current moment. They have my full support and confidence that they will take South Africa forward as we move to bring development to our people.” </p>


Improperly appointed boards spell disaster for organisations

New PIC board appointed, includes Ramos, SARB governor reappointed

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<p>The Prudential Authority in the Reserve Bank has released its inaugural report. The role of the authority is to promote and enhance safety and soundness of all regulated financial institutions in South Africa. Deputy Governor and CEO of the Prudential Authority Kuben Naidoo spoke to CNBC Africa reporter Kopano Gumbi.</p>


SARB releases inaugural Prudential Authority report


<p><em><a href="https://www.businesslive.co.za/bd/companies/financial-services/2019-02-21-absa-said-to-court-reserve-banks-daniel-mminele-as-ceo/">Speculation</a> has been rife since February that  Absa Group is considering South African Reserve Bank  deputy governor Daniel Mminele as its next CEO after Maria Ramos, left in March. Now that he has stepped down from SARB could this be the reason?</em>  </p>



<p><strong>SARB&#8217;s full statement </strong></p>



<p>The
South African Reserve Bank (SARB) wishes to announce that Deputy Governor
Daniel Mminele will be retiring from the service of the SARB when his second
five-year term as Deputy Governor expires on 30 June 2019. Mr Mminele has
advised President Cyril Ramaphosa and the Board of Directors of the SARB
(Board) that he has decided not to serve another term. </p>



<p>Deputy
Governor Mminele leaves the SARB after almost 20 years of service, having
joined the SARB on 6 September 1999. Before being appointed Deputy Governor in
2009, Mr Mminele served as an Executive Assistant to former Senior Deputy
Governor James Cross. Later he also served as General Manager and Head:
International Banking Department, Head: Financial Markets Department and
Executive General Manager: Markets. </p>



<p>His
most recent responsibilities as Deputy Governor include the Financial Markets
Department, International Economic Relations and Policy Department, Legal
Services Department and National Payment System Department, as well as
oversight of the Human Capital Cluster and Operations Cluster reporting to the
Chief Operating Officer (COO), Mogam Pillay. Mr Mminele is a member of the
Governors’ Executive Committee, Prudential Committee, Monetary Policy Committee
and Financial Stability Committee. He also chairs the Information Technology
Steering Committee, the Reserves Management Committee, the Board of Directors
of the Corporation for Public Deposits and the Financial Markets Liaison Group.
Mr Mminele currently serves as South Africa’s G20 and BRICS Central Bank
Deputy, and as Chairperson of the IMFC Deputies of the International Monetary
Fund. </p>



<p>The
SARB takes this opportunity to thank Mr Mminele for his dedicated service,
commitment and significant contribution to the work of the SARB and wishes him
well for the future. In a message to staff, Governor Kganyago said: “Deputy
Governor Mminele has left an indelible mark on this fine institution and his
contribution to the Bank has been invaluable and immeasurable.” </p>



<p>In
accordance with the policy of the SARB, Mr Mminele will serve a mandatory
six-month cooling-off period. </p>



<p>The
Board has been in communication with the President and the Minister of Finance
regarding the process to announce Mr Mminele’s successor, in accordance with
the SARB Act 90 of 1989, as amended. In the interim, Governor Kganyago will
take over the responsibility for the International Economic Relations and
Policy, and Legal Services departments, while Deputy Governor Naidoo will
assume responsibility for the Financial Markets and National Payment System
departments. The COO will report to the Governor, and the Executive responsible
for the Currency Cluster will report to Deputy Governor Naidoo.</p>


SARB Deputy Governor Daniel Mminele retires, is he headed to Absa?

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<p>The rand has been recovering since the news that the ruling ANC would consider expanding the mandate of the reserve bank. The Minister of Finance, Tito Mboweni and the Governor of the Reserve Bank, Lesetja Kganyago responded. CNBC Africa reporter Kopano Gumbi filed this report.</p>


Mboweni slams Magashule over ‘reckless statements’ on Reserve Bank


<p>JOHANNESBURG (Reuters) &#8211; South Africa’s governing African National Congress (ANC) has not decided to expand the central bank’s mandate, the head of the party’s economic transformation committee told Reuters, rebutting comments by another senior party official which hurt the rand.</p>



<p>ANC Secretary General Ace Magashule told a news conference earlier on Tuesday that the party’s executive had “agreed to expand the mandate of the South African Reserve Bank beyond price stability to include growth and employment.”</p>



<p>But senior ANC economic official Enoch Godongwana said there was “no decision” to expand the bank’s mandate.</p>



<p>Magashule’s statement that the ANC executive also wanted to set up a team to explore the possibility of quantitative easing was also inaccurate, Godongwana said.</p>



<p>Reporting by Alexander Winning, Editing by Olivia Kumwenda-Mtambo, William Maclean</p>


South Africa’s ANC has not taken a decision to expand central bank mandate, what you need to know…

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<p>World economic leaders, private sector and civil society have gathered in Washington DC to attend the IMF&#8217;s spring meetings. CNBC spoke to the SARB Governor, Lesetja Kganyago.</p>


SA’s Lesetja Kganyago on investment outlook, inflation targeting

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<p>With South Africa’s debt-to-GDP ratio increasing and breaching its fiscal deficit ceiling will Moody’s downgrade it to junk? Lesetja Kganyago, Governor of the South African Reserve Bank explained what a downgrade to junk would mean.</p>


#Budget2019: What a Moody’s downgrade will mean for SA

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<p>Reserve Bank Governor Lesetja Kganyago discusses the impact of global economic risks on monetary policy and the need for the financial sector to tackle cybercrime robustly.</p>


Lesetja Kganyago on how global headwinds are going to impact SA

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<p>Mozambique&#8217;s Ex-Finance Minister, Manuel Chang, returns to court tomorrow to fight for his freedom. Chang has been in police custody in South Africa for almost three weeks following his arrest for alleged fraud. The charges related to one of the biggest scandals in Maputo that led the country into default and the economy into tailspin. CNBC Africa&#8217;s Fifi Peters filed this report.</p>


Tracking market reaction to Lesetja Kganyago’s decision to leave repo rate unchanged

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<p>According to South African Reserve Bank Governor, Lesetja Kganyago, the local economy still has a fighting chance. In an interview with CNBC at the International Monetary Fund’s annual meeting Kganyago had this to say.</p>


Lesetja Kganyago

Lesetja Kganyago on SA’s external debt, downgrade fears

World Economic Forum: Lesetja Kganyago on what Africa’s free trade agreement means for the continent

How does Eskom downgrade affect monetary policy? A revised look at economic stability

Sarb nationalisation dominates AGM

In conversation with Lesetja Kganyago on nationalising the Reserve Bank, growing the economy

What SARB’s Kganyago, deputy governors’ appointment means for bond holders

What Eskom bond holders urgently require

New PIC board appointed, includes Ramos, SARB governor reappointed

SARB releases inaugural Prudential Authority report

SARB Deputy Governor Daniel Mminele retires, is he headed to Absa?

Mboweni slams Magashule over ‘reckless statements’ on Reserve Bank

South Africa’s ANC has not taken a decision to expand central bank mandate, what you need to know…

SA’s Lesetja Kganyago on investment outlook, inflation targeting

#Budget2019: What a Moody’s downgrade will mean for SA

Lesetja Kganyago on how global headwinds are going to impact SA

Tracking market reaction to Lesetja Kganyago’s decision to leave repo rate unchanged

SARB’s expectations ahead of Moody’s announcement

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Lesetja Kganyago

Lesetja Kganyago on SA’s external debt, downgrade fears

World Economic Forum: Lesetja Kganyago on what Africa’s free trade agreement means for the continent

How does Eskom downgrade affect monetary policy? A revised look at economic stability

Sarb nationalisation dominates AGM

In conversation with Lesetja Kganyago on nationalising the Reserve Bank, growing the economy

What SARB’s Kganyago, deputy governors’ appointment means for bond holders

What Eskom bond holders urgently require

New PIC board appointed, includes Ramos, SARB governor reappointed

SARB releases inaugural Prudential Authority report

SARB Deputy Governor Daniel Mminele retires, is he headed to Absa?

Mboweni slams Magashule over ‘reckless statements’ on Reserve Bank

South Africa’s ANC has not taken a decision to expand central bank mandate, what you need to know…

SA’s Lesetja Kganyago on investment outlook, inflation targeting

#Budget2019: What a Moody’s downgrade will mean for SA

Lesetja Kganyago on how global headwinds are going to impact SA

Tracking market reaction to Lesetja Kganyago’s decision to leave repo rate unchanged

SARB’s expectations ahead of Moody’s announcement

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