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President Jacob Zuma has appointed Mr Kuben Naidoo as a Deputy Governor of the South African Reserve Bank, in terms of section 4(1)(a) read with section 5(1)(a) of the South African Reserve Bank Act, 1989 (Act No. 90 of 1989).

Mr Naidoo will assume duty on the 1st of April 2015.

The position of Deputy Governor of the Reserve Bank became vacant when former incumbent Mr Lesetja Kganyago was appointed as Governor of the Reserve Bank with effect from 9 November 2014.

Mr Naidoo is currently serving as an advisor to the Governor of the Reserve Bank and a member of the Monetary Policy Committee. Mr Naidoo also served as the acting head of the secretariat for the National Planning Commission in the fourth administration. Prior to that, Mr Naidoo worked as Deputy Director-General responsible for the Budget Office at the National Treasury.

He spent two years at the Treasury of the United Kingdom (UK) where he worked on capital budgets and biannual spending reviews.

Mr Naidoo holds a Bachelor of Science degree and a Postgraduate Diploma in Public Management from Wits University as well as a Master of Business Administration from the University of Birmingham, in the UK.

“We wish the new Deputy Governor-designate all the best in the execution of this critical responsibility in our country’s socio-economic dispensation,” said President Zuma.

Issued by The Presidency