The Presidency has confirmed that the five-year contract of the Deputy Governor of the South African Reserve Bank (SARB), Gill Marcus, expires on Wednesday.
President Thabo Mbeki has consulted with Marcus about the renewal of her contract and she has indicated she would like to discuss other matters with the president regarding her future.
“The president will engage with Ms Marcus on those issues until a decision has been reached,” said spokesperson Bheki Khumalo.
Mbeki expressed “his appreciation of the service which she has rendered, and the contribution she has made to the management of our country’s financial affairs”.
Khumalo said SARB Governor Tito Mboweni will take over her responsibilities from Thursday.
Marcus grew up in Johannesburg and obtained a BCom degree from the University of the Witwatersrand. She worked for the African National Congress since the 1970s and spent years in exile clipping newspaper stories for the party.
On her return from exile in 1990, Gill worked in the ANC’s information and publicity department and became one of the party’s more prominent voices.
In 1991 she was elected to the ANC’s national executive committee and she played a crucial role in determining media policies for the party in the run-up to the 1994 elections.
After the election, she was elected to Parliament and served as chairperson of the parliamentary joint finance committee. In 1996 she was appointed deputy minister of finance and in July 1999 she was appointed deputy governor of the SARB, the first woman to hold such a position.
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