Avatar photo

By Citizen Reporter

Journalist


Reserve Bank deputy governor resigns

Groepe tendered his resignation last month and it will become effective on January 31.


The South African Reserve Bank has announced that its deputy governor, Francois Groepe, has resigned.

In a statement, the bank said Groepe wants to pursue outside opportunities. He tendered his resignation in December and it will take effect on January 31, 2019.

“During his terms as Deputy Governor, Mr Groepe provided oversight over the Financial Stability Department, the National Payment System Department, Risk Management & Compliance Department, the Currency Cluster and the Security Management Department,” according to the statement.

“The Governor [Lesetja Kganyago] has been in communication with the President, the Minister of Finance and the Board of the SARB in this regard. The process of appointing Mr Groepe’s successor is currently underway.”

The Reserve Bank thanked him for 14 years of service.

For more news your way, download The Citizen’s app for iOS and Android.