1 February 2018

South Africa: Kganyago Named Central Bank Governor of the Year

President Jacob Zuma has congratulated the governor of the South African Reserve Bank, Lesetja Kganyago, for winning the Central Banking Governor of the year 2018 award.

The award celebrates the officials that have best managed to stimulate growth and stabilise their economy.

In announcing the award on Wednesday, Central Banking said: "Kganyago has defended and enhanced the SARB's reputation as an independent and well-governed institution against all threats - despite a turbulent political and economic backdrop."

"We congratulate governor Kganyago for this award. This international recognition is one of many acknowledgements affirming the good work done by the institution," said President Zuma.

Kganyago for his part said the award is an honour. However, he said the award doesn't belong to him, but to my colleagues at the SARB and South Africans who have entrusted the SARB with the primary task of defending them against inflation.

"South Africans have also deemed it proper that their defender should be free from interference, or influence, by politicians or business interests.

"It is against this background that we shall continue to protect the independence of the SARB and we shall do so by drawing strength from fellow South Africans whose long-term interest informs our actions," said Kganyago.

Kganyago was also recently appointed as the new chairperson of the International Monetary Fund's (IMF) International Monetary and Financial Committee (IMFC).

The IMFC is the primary advisory body of the IMF Board of Governors and deliberates on the principal policy issues facing the IMF and has 24 members.

The members of the IMFC selected Kganyago for a term of three years, effective January.

The IMF is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

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