President Appoints New Reserve Bank Deputy Governor

President Jacob Zuma has appointed Kuben Naidoo as a Deputy Governor of the South African Reserve Bank, said the Presidency.

“President Jacob Zuma has, 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), appointed Mr Kuben Naidoo as a Deputy Governor of the South African Reserve Bank for a period of five years with effect from 1 April 2015,” said Presidency spokesperson Mac Maharaj.

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

Naidoo is currently serving as an advisor to the Governor of the Reserve Bank and a member of the Monetary Policy Committee.

He has also performed work for the Development Bank of Southern Africa and has served as the acting head of the secretariat for the National Planning Commission.

Naidoo has also worked at National Treasury where his responsibilities included education finance, public sector personnel policy, intergovernmental fiscal relations, capital budgeting, budget reform and fiscal policy.

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

The Deputy Governor 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 all the best in the execution of this critical responsibility in our country’s socio-economic dispensation,” said President Zuma on Friday.