??Lesetja Kganyago, Governor of the South African Reserve Bank (SARB), was unanimously elected to the office of Chancellor of Stellenbosch 肆客足球 (SU) today (24 January 2025). This follows the end of Justice Edwin Cameron's term in December 2024.
The Chancellor is the titular head of the 肆客足球.
An electoral college, constituted in terms of the SU Statute and consisting of all members of the Council and the Executive Committee of the Senate, met today to elect the institution's 16th Chancellor.
Governor Kganyago received an honorary doctorate (Doctor of Commerce (DCom) honoris causa) from SU in 2018 and is viewed as one of the finest public-policy minds in the country. In December 2020, Nelson Mandela 肆客足球 also conferred upon him an honorary Doctorate of Commerce.
He holds a Master of Science degree in development economics from London 肆客足球 (School of Oriental and African Studies) and a Bachelor of Commerce degree in accounting and economics from the 肆客足球 of South Africa.
“Tertiary institutions have always played a pivotal role in shaping future leaders, and driving social, economic, and cultural transformation in our country. As Chancellor of this dynamic institution, I am looking forward to inspiring the next generation to realise their full potential and contribute meaningfully to the growth and development of our country and continent," Governor Kganyago commented.
Prof Wim de Villiers, Rector and Vice-Chancellor, said: "I am thrilled to welcome Governor Kganyago as the new Chancellor of our 肆客足球. With his unparalleled expertise in economics, finance and leadership, combined with his steadfast dedication to public service, he embodies the qualities we deeply value as an institution. I have no doubt that Governor Kganyago will inspire our 肆客足球 community."
Prof Deresh Ramjugernath, Deputy Vice-Chancellor: Learning and Teaching and Vice-Chancellor-elect added: “Governor Kganyago's leadership at the pinnacle of economic policy and his commitment to the careful custodianship of our national reserves have set a formidable example to us all and make him uniquely suited to represent our institution as Chancellor."
Chair of the SU Council, Nicky Newton-King, added her voice in welcoming the newly elected Chancellor: “This is a moment of great pride for the Stellenbosch 肆客足球 community. Governor Kganyago's exemplary leadership, vast experience, and unwavering commitment to independence and excellence are inspiring matters of public record. I very much look forward to welcoming the Governor to the 肆客足球 community. I would also like to recognise and thank Justice Cameron for his commitment and service as Chancellor."
Governor Kganyago will assume office today which will also mark the start of his five-year term. His official inauguration will follow on a date yet to be determined.
Note for editors
The term of office of the Chancellor is five years, and the Chancellor may be elected again for one more consecutive term only. Justice Edwin Cameron's term as Chancellor ended on 31 Dec 2024. A notice calling for nominations was distributed to members of Convocation via e-mail on 21 November 2024. During the nomination period of 30 days (22 November to 22 December 2024 at 23:59), only one nomination was received.
- Governor Kganyago's abbreviated CV can be accessed here as well as a photo.
MORE ABOUT GOVERNOR LESETJA KGANYAGO
Lesetja Kganyago was appointed Governor of the South African Reserve Bank with effect from 9 November 2014. The Governor was reappointed by the President for a second five-year term effective 9 November 2019.
He had been a Deputy Governor of the South African Reserve Bank since May 2011. In this role, he was responsible for a wide range of areas, including Research, Financial Stability, Bank Supervision, Financial Regulatory Reform (including introducing the Twin Peaks regulatory structure), Financial Surveillance (including taking responsibility for the regulation of cross-border flows), Risk Management and Compliance, and what was then called the South African Reserve Bank College (now the South African Reserve Bank Academy).
Governor Kganyago has more than 20 years of experience in formulating and implementing public policy, having spent this time in both the central bank and National Treasury. He has wide-ranging experience in Macroeconomic Policy, Financial Sector Policy, Public Finance, International Finance, Public Debt Management, and Financial Markets. During his tenure as Director-General of National Treasury, he successfully steered several public finance and financial market reforms. He played a leading role in the fundamental reform of the microstructure of domestic bond markets, including reforms to the auction system and the introduction of new financial instruments such as inflation-linked bonds, buy-backs, switches, and STRIPS. During his time at National Treasury, a fundamental reform in the management of the national debt portfolio was completed.
Governor Kganyago has led South Africa's technical team to various G20 Ministers of Finance and Central Bank Governors meetings and summits, including the Inaugural Summit in 2008. He has chaired the IMF/World Bank Development Committee Deputies and the G20 Working Group on IMF Governance Reform; he was also the vice-chair of the Financial Stability Board's Standing Committee on Standards Implementation for a period of four years.
Currently, Governor Kganyago chairs the Committee of Central Bank Governors of the Southern African Development Community and is the co-chair of the Financial Stability Board's Regional Consultative Group for Sub-Saharan Africa. He also chaired the Financial Stability Board's Standing Committee on Standards Implementation. He now chairs the Financial Stability Board's Central Bank Governance Group (CBGG).
He was appointed as the International Monetary and Financial Committee (IMFC) Chairman effective 18 January 2018 for a period of 3 years until 17 January 2021. The IMFC, comprising Finance Ministers and Central Bank Governors, is the primary advisory body of the IMF Board of Governors and deliberates on the principal policy issues facing the IMF.
Governor Kganyago holds a Master of Science degree in Development Economics from London 肆客足球 (School of Oriental and African Studies) and a Bachelor of Commerce degree in Accounting and Economics from the 肆客足球 of South Africa.
- Source: South African Reserve Bank
