Lesetja Kganyago, governor of the SA Reserve Bank, has been elected as the 16th chancellor of Stellenbosch University (SU), effective immediately.
The announcement, made on Thursday, follows the end of Justice Edwin Cameron’s term in December.
The university said in a statement that Kganyago’s election was unanimous, with an electoral college comprising the SU council and the executive committee of the senate endorsing his leadership.
Kganyago has a long-standing connection with SU, having been awarded an honorary doctor of commerce degree in 2018.
“Tertiary institutions have always played a pivotal role in shaping future leaders, and driving social, economic and cultural transformation in our country,” said Kganyago.
“As chancellor of this dynamic institution, I am looking forward to inspiring the next generation to realise their full potential and contribute meaningfully to the growth and development of our country and continent.”
Kganyago, widely regarded as one of SA’s foremost economic thinkers, holds a master of science degree in development economics from the University of London and a bachelor of commerce degree in accounting and economics from Unisa.
As chancellor of this dynamic institution, I am looking forward to inspiring the next generation to realise their full potential and contribute meaningfully to the growth and development of our country and continent.
He served as deputy governor of the Reserve Bank from May 16 2011 until he was appointed as governor in 2014. He was reappointed for a second five-year term in 2019 and is serving his third five-year term, which commenced in November 2024.
Kganyago chairs the committee of central bank governors of Sadc, co-chairs the Financial Stability Board’s regional consultative group for Sub-Saharan Africa, and chairs the Financial Stability Board’s standing committee on standards implementation.
He also served as the chairperson of the international monetary and financial committee, which is the primary advisory board to the International Monetary Fund (IMF) board of governors, from January 18 2018 to January 17 2021.
Before joining the Bank, Kganyago was the director-general of the National Treasury, where he played a leading role in implementing public finance and budgetary reforms, leading to greater transparency and accountability of the country’s public finance and budget processes.
He also represented SA at international organisations such as the World Bank, the IMF, the Group of 20 (G20) and the African Development Bank. In this role, he served as the chair of the development committee deputies and also co-chaired a G20 working group on the reform of the IMF.
SU vice-chancellor Prof Wim de Villiers welcomed the appointment, highlighting Kganyago’s blend of expertise, leadership and public service.
“I am thrilled to welcome Governor Kganyago as the new chancellor of our university. With his unparalleled expertise in economics, finance and leadership, combined with his steadfast dedication to public service, he embodies the qualities we deeply value as an institution. I have no doubt that Governor Kganyago will inspire our university community,” he said.
Deputy vice-chancellor and vice-chancellor-elect Prof Deresh Ramjugernath, praised Kganyago’s achievements as an exemplary figure in economic policymaking. “Governor Kganyago’s leadership at the pinnacle of economic policy and his commitment to the careful custodianship of our national reserves have set a formidable example to us all and make him uniquely suited to represent our institution as chancellor.”
Kganyago’s tenure as chancellor will be five years, with the details of his inauguration ceremony to be announced later. As chancellor, he will oversee ceremonial duties, serve as an ambassador for the university and provide strategic counsel to the leadership.
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