Fundi Tshazibana to head the Prudential Authority

The South Africa Reserve Bank has appointed deputy governor Fundi Tshazibana as the chief executive of the Prudential Authority (PA), in a rotation of deputy governor positions, the SARB said in a statement on Wednesday.

It said the rotation was in line with global best management practice, “with the aim of developing a pipeline of well-rounded central bankers who are exposed to all the areas of the SARB’s work”.

Tshazibana’s appointment will take effect on 1 April and last until her term of office as a deputy governor expires on 31 July 2024.

Tshazibana previously worked for National Treasury, the National Energy Regulator of SA and the International Monetary Fund.

Current PA head Kuben Naidoo will move to oversee the SARB’s Financial Stability and Currency Cluster, which includes the Economic Statistics Department, the National Payment System Department, including the Fintech Unit, the Financial Stability Department, and the Risk Management and Compliance Department.

He will also oversee the newly established Corporation for Deposit Insurance.

Rashad Cassim will replace Tshazibana as head of the Financial Markets and International Cluster, which is responsible for financial markets, international economic relations and policy, and legal services.

All three deputy governors will remain members of the SARB’s Monetary Policy Committee, Financial Stability Committee and Prudential Committee.

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