Welcome remarks by Governor Lesetja Kganyago – IAIS Annual Conference (2024)

📅 Dec 05, 2024 SAReserveBank 16 MIN 358 VIEWS 3 SEGMENTS · 2 SPEAKERS

Governor Lesetja Kganyago delivers his welcome remarks at the 2024 International Association of Insurance Supervisors (IAIS) Annual Conference, 5 December 2024.

Host 0:00 ↗

Boss, so I'm honored to invite Governor Lesetja Kganyago of the South African Reserve Bank to join us for opening remarks. The floor is yours. I wish everyone a fruitful and enjoyable annual conference. Thank you.

2 more exchanges in this transcript

Cite this transcript

APA, MLA, BibTeX

APA

Kganyago, L. (2024, December 5). Welcome remarks by Governor Lesetja Kganyago – IAIS Annual Conference (2024) [Interview transcript]. SAReserveBank. CEOInterviews.AI. https://ceointerviews.ai/interview/573440/

MLA

Lesetja Kganyago. "Welcome remarks by Governor Lesetja Kganyago – IAIS Annual Conference (2024)." SAReserveBank, 5 Dec. 2024. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/573440/.

BibTeX

@misc{kganyago2024_573440,
  author       = {Lesetja Kganyago},
  title        = {Welcome remarks by Governor Lesetja Kganyago – IAIS Annual Conference (2024)},
  howpublished = {Interview transcript, SAReserveBank. CEOInterviews.AI},
  year         = {2024},
  month        = {dec},
  url          = {https://ceointerviews.ai/interview/573440/},
  note         = {Speaker-attributed transcript with timestamps}
}

▶

Key Quotes (2)

“One of the workhorses we use in monetary policy is a gap model — the CR projection model — that identifies gaps between inflation and its target, growth and potential, the exchange rate and its equilibrium, and interest rates and their natural level; we talk about these gaps every six to eight weeks and adjust the one gap we control, interest rates.”

▶ 3:03 POLICY

“Insurance protection gaps remain a source of concern for policymakers and insurance supervisors globally, and the progress made in shrinking these gaps has been muted with too little focus on the vulnerable in society.”

▶ 9:52 CONTROVERSIAL POLICY

More interviews with Lesetja Kganyago

Opening and keynote address by Governor Lesetja KganyagoOct 20, 2026 · SAReserveBank · 32 min
Yemen Says Houthis Hit Presidential Palace, EU-Gulf Summit in Saudi Arabia PostponedOct 15, 2026 · Bloomberg Television · 44 min
Governor Lesetja Kganyago delivers the Monetary Policy Committee statementSep 23, 2026 · SABC News · 41 min
Reserve Bank governor talks inflation, Iran and El Niño. And Shoprite brews a Vida deal | BWBWSep 03, 2026 · News24 · 39 min
Lesaka CEO Lincoln Mali in Conversation with SARB Governor Lesetja Kganyago | 12 August 2026Aug 12, 2026 · Lesaka Technologies · 29 min
[TOP STORY] Investment, not regulation, will drive growth – KganyagoAug 06, 2026 · Moneyweb · 16 min

All Lesetja Kganyago transcripts →

About Lesetja Kganyago

Lesetja Kganyago, Governor of the South African Reserve Bank, delivered the opening keynote at the 2026 Payments Conference in October, where he discussed ongoing reforms to the national payment system. He noted that non-banks will be able to participate directly in the payment system, that payment system management functions have transitioned to the Reserve Bank, and that the introduction of the QR Plus standard aims to improve interoperability. He reported that the PayShap real-time payment service has surpassed 1 billion transactions since its 2023 inception, with over 1 trillion rand transferred, while acknowledging that PayShap still processes a small share of transactions compared to cash and other electronic transfers. He emphasized the need for consistent customer experiences across banks and described payments as essential economic infrastructure. In September, Kganyago announced the Monetary Policy Committee's unanimous decision to raise the repo rate by 25 basis points to 7.25%, citing geopolitical conflicts, oil price shocks, and global supply disruptions as sources of inflationary pressure. He warned that inflation could rise above 5% in the fourth quarter and stated that the Reserve Bank adopted a more restrictive stance to prevent second-round effects, saying the central bank cannot wait for such effects to materialize before acting. He also noted that South Africa's stronger starting position, including a lower inflation target and positive real interest rates, allowed for a measured response compared to past shocks. The Reserve Bank lowered its growth outlook, projecting annual growth of 1.2% for the year, and Kganyago indicated that future rate decisions would be made meeting by meeting based on incoming data.

All Lesetja Kganyago appearances → SAReserveBank on YouTube →