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Deputy Sarb governor Daniel Mminele retires

Mminele’s term will come to an end on 30 June.

FILE: Sarb deputy governor Daniel Mminele. Picture: SA Reserve Bank

JOHANNESBURG - The South African Reserve Bank (Sarb) on Thursday announced the retirement deputy governor Daniel Mminele.

Mminele had advised President Cyril Ramaphosa and the board of directors of the central bank on his decision not to serve for a third term.

“Deputy Governor Mminele leaves the SARB after almost 20 years of service, having joined the SARB on 6 September 1999. Before being appointed Deputy Governor in 2009, Mr Mminele served as an Executive Assistant to former Senior Deputy Governor James Cross. Later he also served as General Manager and Head: International Banking Department, Head: Financial Markets Department and Executive General Manager: Markets.

“His most recent responsibilities as Deputy Governor include the Financial Markets Department, International Economic Relations and Policy Department, Legal Services Department and National Payment System Department, as well as oversight of the Human Capital Cluster and Operations Cluster reporting to the Chief Operating Officer (COO), Mogam Pillay,” the Sarb said in a statement.

Mminele’s term will come to an end on 30 June.

His most recent responsibilities as deputy governor included the Financial Markets Department, International Economic Relations and Policy Department, Legal Services Department and National Payment System Department, as well as oversight of the Human Capital Cluster and Operations Cluster reporting to the Chief Operating Officer (COO), Mogam Pillay.

Mminele is a member of the Governors’ Executive Committee, Prudential Committee, Monetary Policy Committee and Financial Stability Committee.

He also chairs the Information Technology Steering Committee, the Reserves Management Committee, the Board of Directors of the Corporation for Public Deposits and the Financial Markets Liaison Group.

Mminele currently serves as South Africa’s G20 and BRICS Central Bank deputy, and as chairperson of the IMFC Deputies of the International Monetary Fund.

The Sarb has thanked Mminele for his service and wished him well for the future.

“Deputy Governor Mminele has left an indelible mark on this fine institution and his contribution to the Bank has been invaluable and immeasurable,” said governor Lesetja Kganyago in a message to staff.

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