EDITORIAL: President needs to make swift and sensible decision on deputy governor
Uncertainty about the Reserve Bank’s leadership is not good for SA, and certainly not in an election year
Our president is procrastinating yet again, this time on an appointment which is key to investor perceptions of SA and to SA’s economic fortunes.
Reserve Bank deputy governor Kuben Naidoo first approached President Cyril Ramaphosa in July 2023 to convey his intention to leave the Bank sooner rather than later, and well before his contract ended in March 2025. There was evidently nothing sinister about the resignation: Naidoo was in his second five-year term at the Bank and had been in the public sector for well over two decades, serving with distinction in the Treasury and in the presidency. If he sought to do something different, it was not in the president’s power to stop him. And his request to depart should have given Ramaphosa the opportunity to make a strong new appointment, well before the turmoil of the general election in 2024...
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