Business In The News South Africa

SA Reserve Bank deputy governor resigns

CAPE TOWN, January 3 – The South African Reserve Bank (Sarb) on Wednesday announced the resignation of deputy governor Francois Groepe effective January 31, 2019.

Groepe tendered his resignation during December to pursue outside opportunities.

“The Sarb wishes to thank deputy governor Groepe for his 14 years of service, seven served as a non-executive director and seven as an executive and wishes him well in his future endeavours,” the bank said in a statement.

During his terms as deputy governor, Groepe provided oversight over the Financial Stability Department, the National Payment System Department, Risk Management & Compliance Department, the Currency Cluster and the Security Management Department.

The governor has been in communication with President Cyril Ramaphosa, Finance Minister Tito Mboweni and the Board of the Sarb in this regard. The process of appointing Groepe’s successor is currently underway, the bank said. (ANA)

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