Minister of Finance Enoch Godongwana has reappointed Unathi Kamlana (pictured) as the Commissioner of the Financial Sector Conduct Authority.
The reappointment is for five years and is effective from 1 June 2026 until 31 May 2031, the Ministry of Finance said in a statement on 4 March.
Kamlana has been the FSCA Commissioner since 1 June 2021. He is responsible for the overall leadership of the organisation, developing and implementing the Authority’s regulatory strategy, and overseeing the day-to-day management, to ensure the fair treatment of consumers and a stable financial market, the Ministry said.
Godongwana has also reappointed Katherine Gibson and Farzana Badat as Deputy Commissioners of the FSCA for a further term of five years.
Gibson’s term will be effective from 27 September 2026 to 26 September 2031, and Badat’s term will be effective from 1 December 2026 to 30 November 2031.
Gibson has served as a Deputy Commissioner since 27 September 2021. She oversees the Regulatory Policy and Enforcement divisions. Badat has served as a Deputy Commissioner since 1 December 2021, where she oversees the Conduct of Business Supervision Division and the Licensing and Business Centre.
Astrid Ludin will, at her request, step down from her role as Deputy Commissioner at the end of her five-year term on 31 May 2026. Ludin oversees the Retirement Funds Supervision Division.
The Financial Sector Regulation Act allows for the appointment of a Commissioner and up to four Deputy Commissioners. The Minister will shortly initiate the process of appointing a replacement for Ludin, as well as a fourth Deputy Commissioner.
Kamlana, Gibson, Badat, and Ludin played a vital role in managing the transition of the FSCA to a new leadership following the disbandment in September 2021 of the Transitional Management Committee, which served as the FSCA’s executive committee from 1 April 2018, when the FSCA was established, until 30 September 2021, the Ministry’s statement said.
“The steady management at the FSCA, led by Commissioner Kamlana, in a tough, complex environment marked by a rapidly transforming technological and financial landscape and the still-urgent need to lower barriers to entry and protecting all consumers of financial services is proof of the importance of solid institutions with capable leadership,” said Godongwana.
“The team has not wavered from the mission to assist in strengthening the legislative frameworks that keep our financial sector on sound footing. Testament to this, working together with the National Treasury and other financial sector regulators, the FSCA has supported the development of the Conduct of Financial Institutions Bill, which seeks to establish a consolidated, comprehensive, and consistent regulatory framework for the conduct of financial institutions,” he said. “The reappointment of Mr Kamlana, Ms Badat, and Ms Gibson will ensure that this momentum continues.”
