File image: Dr. Terrence Nombembe reapointed to the SARB Board

CAPE TOWN - The Presidency, has today, announced the reappointment of Terrence Nombembe to the Board of South African Reserve Bank as a non-executive director for a period of three years.  

President Jacob Zuma has congratulated Dr. Nombembe and wished him well in his responsibilities.

According to SAICA profiles, Dr. Nombembe has previously served as the Auditor-General for seven years. 

Some of his other previous employers have been Gobodo Incorporated, BP Botswana, BP Southern Africa (PTY) Limited, Unilever and Lipton South Africa (Pty) Limited where his experience included partnership in public practice, a stint in internal audit and finance in the energy sector, as well as working as an accountant in the retail industry.

SARB put it clear that, the board of directors meets regularly to ensure that it fulfills its role of ensuring corporate governance of the Bank. 

The Board ensures compliance with principles of good corporate governance by, amongst other things, adopting rules and determining policies for the sound accounting, administration and functioning of the Bank, as well as by exercising the other tasks reserved for it in terms of the Act. 

In the process, the Board utilises various committees and subcommittees, chaired by non-executive directors.