Outgoing SA Reserve Bank governor Gill Marcus on Monday graciously congratulated her successor, Lesetja Kganyago.
She embraced Kganyago following an announcement by President Jacob Zuma that he would take over from her on November 9.
“It is my pleasure today to announce my decision to appoint Mr Lesetja Kganyago,” Zuma said at the Union Buildings in Pretoria.
Kganyago is one of two of Marcus's deputies, alongside Daniel Mminele.
Marcus thanked Zuma for choosing her successor from within the bank.
“It is a reflection... of the choice we have... in the bank,” she said, adding that she wished him well.
“You're going to have an amazing experience and you have a wonderful team to work with,” said Marcus.
Kganyago spoke highly of Marcus, describing her as a matriarch. He vowed to serve the country well.
“I've got no doubt that eyes will be on me and I want to say, I will not disappoint,” he said.
Sapa