President Thabo Mbeki has appointed a new deputy governor at the SA Reserve Bank.

Renosi Mokate was appointed by Mbeki for a five-year period effective from August 1.

"I am very glad that the appointment has been made. We welcome Dr Mokate to the South African Reserve Bank and we wish her a fruitful, successful and rewarding stay here," said Reserve Bank governor Tito Mboweni in a statement on Friday.

Mokate joins the Reserve Bank's two other deputy governors, Xolile Guma and Ian Plenderleith, as part of Mboweni's executive management team.

Mokate is to be responsible for corporate services, the SARB College, human resources, legal services, business systems and technology, as well as the internal audit and executive management departments of the Reserve Bank.

Mokate served as chair of the Financial and Fiscal Commission from July 2004. Before that, she served as a director at the Human Sciences Research Council, the University of Pretoria and as a senior policy analyst with the Development Bank of Southern Africa.

Sapa

SA economy South Africa is the economic powerhouse of Africa, with a gross domestic product four times that of its southern African neighbours and comprising 25% of the entire continent's GDP.

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