South African president extends central bank governor's term, appoints new deputy governor

Source: Reuters. Central bank governor, Lesetja Kganyago.

"The re-appointment of Governor Kganyago will ensure continuity and institutional stability at the reserve bank," the presidency said in a statement.

Modise, who is currently a deputy director-general in the National Treasury, will start her role on 1 April for a term of five years, the statement said. She replaces former deputy governor Kuben Naidoo.