The possible exit of Deputy South African Reserve Bank (SARB) Governor Gill Marcus follows “close on the heels” of the departure of Barbara Hogan as chairperson of the National Assembly finance portfolio committee, Democratic Alliance shadow finance minister Raenette Taljaard said on Wednesday.
Responding to the reports that Marcus — whose five-year employment contract expires on Wednesday — was still in talks with the South African Presidency on her future, she said Marcus had done well and weathered “a number of storms” in the past. Marcus is a former deputy finance minister.
The involvement of the presidency raises questions regarding the appropriateness and the independence of the SARB, said Taljaard.
“Whereas the African National Congress does have a deployment committee the appropriateness of deployment strategies, especially ones involved in the Presidency, to critical institutions with guaranteed independence such as the bank will raise eyebrows.”
She said her party will be tabling questions to the minister of finance in this regard.
Taljaard said it is quite clear that there is considerable change in some of the key portfolios dealing with South Africa’s economic affairs.
“It is imperative that candidates with both the requisite experience and credibility with the markets assumes these responsibilities.”
A Presidency statement said President Thabo Mbeki has had consultations with Marcus about the renewal of her employment contract and she has indicated that she would like to discuss other matters with Mbeki regarding her future.
Mbeki will engage with Marcus on those issues until a decision has been reached, it said.
In the meantime, the Presidency has been informed that Tito Mboweni, the Governor of the SARB, will take over the responsibilities that were discharged by Marcus. — I-Net Bridge