By Lehlohonolo Lehana.
Photo Credit: Mike Hutchings.
South African Reserve Bank (SARB) governor Elias Lesetja Kganyago has been nominated to succeed Stellenbosch University chancellor Justice Edwin Cameron.
The term of the current Chancellor, Retired Justice Cameron, will officially end on 31 December 2024.
Cameron was a judge in the Constitutional Court from January 2009, retiring in August 2019. He had spent 25 years in total on the bench. He stepped into the position of Chancellor of SU in January 2020. He is also a well-known human rights campaigner.
The university stated on Monday that Kganyago was the only nomination since its search for a new chancellor began on 21 November 2024.
“A notice calling for nominations was distributed to members of Convocation via e-mail on 21 November 2024 and a dedicated webpage was published with information on the nomination and election process.
“The nomination period lasted for 30 days, spanning from 22 November to December 22, 2024, at 23:59.
During this timeframe, only one nomination was received: Elias Lesetja Kganyago.
Kganyago has been Governor of the South African Reserve Bank (SARB) since 9 November 2014. He was reappointed by the President of South Africa to a second five-year term on 9 November 2019. He is the Chairperson of the country’s Monetary Policy Committee and the Financial Stability Committee. Prior to his appointment as Governor, Kganyago served as SARB’s Deputy Governor from 16 May 2011 until his elevation to Governor.
Kganyago chairs the Committee of Central Bank Governors of the Southern African Development Community (SADC), co-chairs the Financial Stability Board’s Regional Consultative Group for Sub-Saharan Africa and chairs the Financial Stability Board’s Standing Committee on Standards Implementation. He served from 18 January 2018 to 17 January 2021 as the Chairperson of the International Monetary and Financial Committee, which is the primary advisory board to the International Monetary Fund (IMF) Board of Governors.
Before joining the SARB, Kganyago worked for 15 years at the National Treasury of South Africa. He served as Director from 1996 until 1998 when he became Chief Director in the Asset and Liability Management Division. He served in this role until January 2005 when he was appointed as the Director-General of National Treasury. He has represented South Africa at international organizations such as the World Bank, the IMF, the G20 and the African Development Bank.
Kganyago holds an MSc in Economics from SOAS, University of London, and a Bachelor of Commerce degree in economics and accounting from the University of South Africa. He also received a variety of training in finance, economics and management.