Dr Modise’s appointment commences on April 1, 2024, for five years.

Minister Godongwana also wishes to congratulate Mr Lesetja Kganyago on his re-appointment as Governor of the SARB, as well as Ms Nomfundo Tshazibana and Dr Rashad Cassim as Deputy Governor of the SARB, each for another five-year term.

Dr Modise’s appointment follows a thorough consultation between the President, the Minister of Finance and the Board of the Reserve Bank, per the prescripts of section 4(1)(a), read with section 5(1)(a), of the South African Reserve Bank (SARB) Act, 1989 (Act No. 90 of 1989).

Minister Godongwana believes Dr Modise can succeed in what will be a challenging role, given her deep background in public economics and finances.

She began her public service career as an intern at the South African Reserve Bank, in 2004, and by the time she left the central bank she held the position of Economist.

After joining the National Treasury in 2009 as a Senior Economist in the Economic Policy Unit, Dr Modise steadily climbed the ranks and soon earned a promotion to Director of Fiscal Policy, and thereafter the position of Chief Director of Strategy and Risk Management.

She was eventually appointed Deputy Director-General: Public Finance, in 2017.

Her duties as DDG of Public Finance included being responsible for fiscal and financial monitoring in the evaluation of policy proposals across national departments and assessing and performing oversight over public and state-owned entities.

Dr Modise holds a Bcom in Economics, BCom Honours in Econometrics, a Mcom in

Econometrics (cum laude), and a PhD in Economics in 2013, all from the University of

Pretoria.

She is also a competent leader and the SARB, as well as the nation as a whole, will benefit immensely from her diligence," Minister Godongwana said.

The vacancy occasioned by Dr Modise’s departure from the National Treasury will be duly filled once the process necessary to fill the post has been completed.

The National Treasury is fortunate to have a deep well of capable officials in the department from which to draw to ensure there is continuity until a permanent appointment is made.