afrol News, 20 July - South African President, Jacob Zuma has appointed the first woman Governor, Gill Marcus, to succeed Tito Mboweni as Reserve Bank Governor.

The appointment was announced yesterday to the media by Mr Zuma who also thanked the outgoing Governor for having led the country during the tough and trying times in his 10 years at the leadership.

Ms Marcus takes over on 9 November, after Mr Mboweni reportedly declined the extension of his contract which ends in early August.

Mr Mboweni, could only say he needs more time to himself, declining to be drawn into media questions as to his next move.

Announcing the new appointment Pretoria, President Zuma said he had offered a reappointment, but Mr Mboweni indicated he wished to leave in November to pursue other interests.

Ms Marcus was currently serving as chairperson of the Absa and has served as Deputy Minister of finance from 1996 to 1999 and Deputy Reserve Bank Governor from 1999 to 2004. She also chaired the Joint Committee on Finance and held a number of executive positions in the private sector.

According to Mr Zuma, the new Governor has qualities of proven leadership, sound judgment and integrity. "She will prove a worthy successor to Mr Mboweni...Ms Marcus has extensive knowledge of the institution she is now called upon to lead, having served as deputy governor of the Reserve Bank from 1999 to 2004," added Mr Zuma.

By staff writer

© afrol News

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