Mminele’s resignation, which was announced yesterday, precedes the end-of-term of current Sarb governor Lesetja Kganyago in November, though he has indicated availability for reappointment.
Mminele, 54, has reportedly advised Ramaphosa and the Sarb’s board of directors that he has decided not to serve another term when his second five-year term as deputy governor expires on Sunday, June 30, Sarb said.
Citadel Investment Service’s chief investment officer, George Herman, said not much could be read into Mminele’s retirement as it had been well communicated ahead of time.
“It is decent succession planning, it creates space for new blood at the MPC (Monetary Policy Committee). It had been well planned,” he said.