Appointment of New Deputy Governor at the South African Reserve Bank
29 July 2005
The President, Mr Thabo Mbeki, has informed the Governor of the South African Reserve Bank, Mr Tito Mboweni, that he has appointed Dr Renosi Mokate as deputy governor for a period of five years, effective from 1 August 2005.
Dr Mokate joins the South African Reserve Bank with considerable knowledge of economic policy issues and with senior management and leadership experience.
"I am very glad that the appointment has been made," said Mr Mboweni. "We welcome Dr Mokate to the South African Reserve Bank and we wish her a fruitful, successful and rewarding stay here."
Dr Mokate has served as the Chairperson of the Financial and Fiscal Commission since 1 July 2004. Prior to this, Dr Mokate held a number of senior management and director positions. Dr Mokate served as a director at the Human Sciences Research Council and the University of Pretoria and senior policy analyst with the Development Bank of Southern Africa; Chief Executive Officer of the Independent Electoral Commission during the country's first democratic elections and the Central Energy Fund.
Dr Mokate holds a BA degree from Lincoln University, Pennsylvania and MA and PhD degrees from the University of Delaware, USA. She has had an extensive academic career in the USA and is also associated with the University of Pretoria. Dr Mokate's fields of specialisation are in development economics and planning, urban economic policy and policy analysis.
Dr Mokate joins the South African Reserve Bank's two other deputy governors, Dr Xolile Guma and Mr Ian Plenderleith as part of the Governor's executive management team. Dr Mokate will be responsible for the following departments in the Bank: Corporate Services, the SARB College, Human Resources, Legal Services, Business Systems and Technology, Internal Audit and Executive Management.
In accordance with section 4 of the South African Reserve Bank Act, Act 90 of 1989, the Governor and three deputy governors of the South African Reserve Bank are appointed by the President after consultation with the Minister of Finance and the Board of Directors of the South African Reserve Bank. Both the Minister of Finance and the Board support this appointment. By this appointment, the executive directors of the Bank are complete in terms of the requirements of the South African Reserve Bank Act, Act 90 of 1989 as amended.
The management and staff of the South African Reserve Bank would like to welcome Dr Mokate and will afford her all the necessary support during her tenure.
Tel: (012) 313 4469
Issued by: South African Reserve Bank
29 July 2005
Source: South African Reserve Bank (http://www.reservebank.co.za)