South African Reserve Bank

Contact Details

Physical: 370 Helen Joseph Street, Pretoria
Postal: PO Box 427, Pretoria, 0001
Tel: 012 313 3911 / 086 112 7272
Fax: 012 313 3197/3929


The South African Reserve Bank (the Bank) is the central bank of South Africa. The primary purpose of the Bank is to achieve and maintain price stability in the interest of balanced and sustainable economic growth. Together with other institutions, it also plays a pivotal role in ensuring financial stability.

In terms of section 224 of the Constitution, 1996, ‘the South African Reserve Bank, in pursuit of its primary object, must perform its functions independently and without fear, favour or prejudice, but there must be regular consultation between the Bank and the Cabinet member responsible for national financial matters'. The independence and autonomy of the Bank are therefore entrenched in the Constitution.

In pursuit of its mandate and purpose, the Bank performs the following key functions: formulating and implementing monetary policy; promoting financial stability; regulating and supervising the banking system; issuing banknotes and coins; managing the official gold and foreign-exchange (FX) reserves of the country; undertaking data analysis and research; ensuring the effective functioning of the National Payment System; administering the country's remaining exchange controls; and acting as banker to government.

Office Bearers/Management

Mr EL Kganyago
Deputy Governors
Mr FE Groepe
Deputy Governors
Mr AD Mminele
Deputy Governors
Mr K Naidoo

Mr E Lesetja Kganyago
Deputy Governors:
Mr Francois E Groepe
Mr A Daniel Mminele
Mr Kuben Naidoo (Deputy Governor and Registrar of Banks)
Board Members:
Dr T Ajam
Mr RJG Barrow
Prof F Cachalia
Dr CB Du Toit
Ms VJ Klein
Prof R Le Roux
Ms MM Manyama
Dr T Nombembe
Mr GM Ralfe
Prof BW Smit
Prof N Vink
Chief Financial Officer:
Ms N Ford-Hoon (Group CFO and Head: Financial Services Department)
Chief Operations Officer:
Mr M Pillay
Senior Management:
Mr JM Bence (Head: Currency Management Department)
Ms BB Boqwana (Chief of Staff)
Mr DE Bostander (Head: Financial Conglomerate Supervision Department)
Dr RI Cassim (Head: Economic Research and Statistics Department)
Dr JJ de Jager (General Counsel)
Mr D Garnett (Head: Security Management Department)
Mr MS Ismail (Chief Information Officer: Business Systems and Technology Department)
Mr SB Kahn (Adviser to the Governor)
Mr U Kamlana (Head: Policy, Statistics and Industry Support Department)
Ms HM Kgoroba (Head: Group Human Resources Department)
Mr GM Lewis (Chief Internal Auditor: Internal Audit Department)
Mr P Maharaj (Group Executive: Currency Management)
Mr PM Masela (Head: National Payment System Department)
Mr E Mazibuko (Head: Financial Surveillance Department)
Mr FS Mthiyane (Head: Corporate Services Department)
Mr L Myburgh (Head: Financial Markets Department)
Dr HF Nel (Head: Financial Stability Department)
Dr J Rangasamy (Head: International Economic Relations and Policy Department)
Ms SL Reynolds (Group Company Secretary)
Mr RH Urry (Head: Risk Support Department)
Mr CJ Van der Walt (Head: Legal Services Department and Deputy General: Councel)
Ms S Vogelsang (Head: Banking and Insurance Supervision)
Dr LM Voss-Price (Head: SARB Academy)
Communications Officers:
Mr JS Sikhakhane (Divisional Head: Communications)

Financial Information

All Financial Values: R'0002015/162014/152013/142012/13
AUDIT OUTCOMEClean AuditClean AuditClean Auditn/a
Current Assetsn/an/an/an/a
Non-Current Assetsn/an/an/an/a
Total Assets822 433 000672 043 000600 889 000532 015 000
Current Liabilitiesn/an/an/an/a
Non-Current Liabilitiesn/an/an/an/a
Total Liabilities814 145 000665 416 000594 502 000523 889 000
Total Net Assets8 288 0006 627 0006 387 0008 126 000
Total Revenue13 434 00011 502 0007 465 0007 395 000
Revenue from Exchange Transactionsn/an/an/an/a
Revenue from Non-Exchange Transactionsn/an/an/an/a
Total Expenditure(11 853 000)(10 875 000)(8 782 000)(8 645 000)
Employee Costs(2 014 000)(1 902 000)(1 850 000)(1 284 000)
Surplus/(Deficit) for Year1 581 000627 000(1 317 000)(1 250 000)
Net Cash Flows from Operating Activities10 625 00011 304 0003 920 000959 000
Net Cash Flows from Investing Activities(17 454 000)(1 973 000)(3 239 000)(7 699 000)
Cash & Cash Equivalents at End of Year5 948 00012 777 0003 446 0002 765 000
Unauthorised Expendituren/an/an/an/a
Irregular Expendituren/an/an/an/a
Fruitless & Wasteful Expendituren/an/an/an/a
Posts Approvedn/an/an/an/a
Posts Filled2 2332 239n/an/a
SourcesAnnual ReportAnnual ReportAnnual Report n/a
NoteNot audited by AGSA. Independent Audit ReportNot audited by AGSA. Independent Audit ReportNot audited by AGSA. Independent Audit Report

Overseeing Department/Entity

Reporting Entities

Annual Reports

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