The process to appoint South Africa’s new central bank Governor is underway, but the government will not rush through it, as it still has time, Finance Minister Nhlanhla Nene said on Thursday.
Current Governor Gill Marcus unexpectedly announced last week she would step down at the end of her term on November 8, rather than seeking a second five-year tenure, sending the rand to its weakest level against the dollar in seven months.
Deputy governor Lesetja Kganyago is seen as most likely to succeed Marcus, providing policy continuity, a Reuters poll showed earlier this week.