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South African Reserve Bank
The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial conditions which World War I had brought. The SARB was only the fourth central bank established outside the United Kingdom and Europe, the others being the Federal Reserve, Bank of Japan and Bank of Java. The earliest suggestions for the establishment of the Central Bank in South Africa date back to 1879. A select committee, of ten members of Parliament, was established on 31 March 1920 to examine the benefits to the national interest of the establishing of the central bank. Following on the recommendations of the committee, the South African Reserve Bank opened for business on 30 June 1921, making it the oldest central bank in Africa. The first banknotes were issued to the public by the Bank on 19 April 1922. Unlike the Bank of England, whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pretoria
Pretoria ( ; ) is the Capital of South Africa, administrative capital of South Africa, serving as the seat of the Executive (government), executive branch of government, and as the host to all foreign embassies to the country. Pretoria straddles the Apies River and extends eastward into the foothills of the Magaliesberg mountains. It has a reputation as an academic city and centre of research, being home to the Tshwane University of Technology (TUT), the University of Pretoria (UP), the University of South Africa (UNISA), the Council for Scientific and Industrial Research (CSIR), and the Human Sciences Research Council. It also hosts the National Research Foundation (South Africa), National Research Foundation and the South African Bureau of Standards. Pretoria was one of the host cities of the 2010 FIFA World Cup. Pretoria is the central part of the City of Tshwane Metropolitan Municipality which was formed by the amalgamation of several former local authorities, including B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South African Reserve Bank Building In Pretoria
South is one of the cardinal directions or compass points. The direction is the opposite of north and is perpendicular to both west and east. Etymology The word ''south'' comes from Old English ''sūþ'', from earlier Proto-Germanic ''*sunþaz'' ("south"), possibly related to the same Proto-Indo-European root that the word ''sun'' derived from. Some languages describe south in the same way, from the fact that it is the direction of the sun at noon (in the Northern Hemisphere), like Latin meridies 'noon, south' (from medius 'middle' + dies 'day', ), while others describe south as the right-hand side of the rising sun, like Biblical Hebrew תֵּימָן teiman 'south' from יָמִין yamin 'right', Aramaic תַּימנַא taymna from יָמִין yamin 'right' and Syriac ܬܰܝܡܢܳܐ taymna from ܝܰܡܝܺܢܳܐ yamina (hence the name of Yemen, the land to the south/right of the Levant). South is sometimes abbreviated as S. Navigation By convention, the ''bottom or down-f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South African Pound
The pound (Afrikaans: ''pond''; symbol £, £SA for distinction) was the currency of the Union of South Africa from the formation of the country as a British dominion in 1910. It was replaced by the rand in 1961 when South Africa decimalised. In 1825, an imperial order-in-council made sterling coinage legal tender in all the British colonies. At that time, the only British colony in Southern Africa was the Cape Colony. As time went on, sterling and its associated coinage became the currency of every British territory in Southern Africa. At that time sterling followed the Carolingian monetary system of a pound divided into 20 shillings, each of 12 pence. History The pound sterling became the standard currency of the Cape of Good Hope colony in 1825 following an imperial order-in-council that was issued for the purpose of introducing sterling coinage into all British colonies. British coins then replaced the Dutch currency. Before a unified South Africa, many authorities issue ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gill Marcus
Gill Marcus (born 10 August 1949) is a South African banker and politician who served as Governor of the South African Reserve Bank from 2009 to 2014. She was the first and only woman and the ninth person to hold the position. Life and career Early years Marcus was born in Johannesburg, South Africa. Her grandparents were Jewish immigrants from Lithuania; both of her parents were born in South Africa. Exile Both her parents were anti-apartheid activists and members of the South African Communist Party (SACP). They went into exile in 1969, together with Gill, her two sisters and brother. She completed her degree by correspondence with the University of South Africa, with a BComm in Industrial Psychology in 1976. She joined the SACP and the African National Congress (ANC) in 1970 and began working for the exiled ANC's Department of Information and Publicity (DIP) in London, later becoming the DIP's deputy secretary. Return Marcus returned to South Africa in 1990 after the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tito Mboweni
Tito Titus Mboweni (16 March 1959 – 12 October 2024) was a South African politician who served as Minister of Finance of South Africa in the government of President Cyril Ramaphosa from 2018 to 2021. Mboweni was the eighth Governor of the South African Reserve Bank and the first Black South African to hold the post from 1999 to 2009. He was sworn in as Minister of Finance on 9 October 2018, following Nhlanhla Nene's resignation. Mboweni was a founding member of Mboweni Brothers Investment Holdings and a former international advisor of Goldman Sachs International. He had been appointed a non executive Director for South Africa at the New Development Bank (BRICS Development Bank). Early life and career The youngest of three children, Tito Mboweni was born on 16 March 1959. He grew up in Tzaneen in the Limpopo Province. He attended the University of the North between 1979 and 1980, where he registered for a Bachelor of Commerce degree. He did not complete his studies there a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chris Stals
Christian Lodewyk Stals, better known as Chris Stals (born 13 March 1934) was the seventh Governor of the South African Reserve Bank, serving from 8 August 1989 to 7 August 1999. He succeeded Gerhard de Kock who had died in office. He obtained a BComm degree from the University of Pretoria During his term, South Africa's constitutional arrangements were changed again. The Second Republic was superseded by the Third Republic. It was also during his term that South Africa returned to the Commonwealth of Nations. It was President Nelson Mandela who kept Stals in office. Stals was succeeded by Tito Mboweni Tito Titus Mboweni (16 March 1959 – 12 October 2024) was a South African politician who served as Minister of Finance of South Africa in the government of President Cyril Ramaphosa from 2018 to 2021. Mboweni was the eighth Governor of the So .... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerhard De Kock
Dr. Gerhardus Petrus Christiaan de Kock better known as Gerhard de Kock (14 February 1926 – 7 August 1989) was the sixth Governor of the South African Reserve Bank. He was the son of Dr. M.H. de Kock, who was the third Governor of the South African Reserve Bank. South Africa's constitutional arrangements were changed during his term in office. The 1st Republic was superseded by the 2nd Republic in late 1984. Dr. de Kock was the first (and only) Governor of the South African Reserve Bank to die in office. His term was from 1 January 1981 until his death on 7 August 1989. He was succeeded by Dr. Chris Stals. As early as 1951 Dr Gerhardus de Kock was engaged by the Reserve Bank to do specialised research on a part-time basis. At the end of 1955 he joined the Bank as an economist. Shortly after his appointment at the Bank he was chosen to represent the Bank at the first course presented by the Bank of England for foreign bank officials in London. As from 1 July 1962 the position ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theunis Willem De Jongh
Theunis Willem de Jongh was the fifth Governor of the South African Reserve Bank. His term of office was from 1 July 1967 to 31 December 1980. He was succeeded by Gerhard de Kock Dr. Gerhardus Petrus Christiaan de Kock better known as Gerhard de Kock (14 February 1926 – 7 August 1989) was the sixth Governor of the South African Reserve Bank. He was the son of Dr. M.H. de Kock, who was the third Governor of the South .... References Afrikaner people Governors of the South African Reserve Bank Living people 20th-century South African businesspeople 20th-century South African economists Year of birth missing (living people) {{SouthAfrica-business-bio-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerhard Rissik
Gerard Rissik (21 February 1903 – 4 October 1979) was the fourth Governor of the South African Reserve Bank. His term of office was from 1 July 1962 to 30 June 1967. He was succeeded by Dr. Theunis Willem de Jongh. Career Rissik joined the reserve bank on 3 March 1923 as junior clerk. He would enrol at the Transvaal University College and obtained a Bachelor of Commerce in 1926. While completing his degree he completed the Institute of Bankers exam in 1925 obtaining a banking diploma. To facilitate his career further Rissik passed his Chartered Institute of Secretaries exams and an auditing course from the University of South Africa The University of South Africa (UNISA) is the largest university system in South Africa by enrollment. It attracts a third of all higher education students in South Africa. Through various colleges and affiliates, UNISA has over 400,000 student .... In 1933, he has promoted to Audit Clerk and then in 1939, Assistant Secretary. Rissik became ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michiel Hendrik De Kock
Michiel Hendrik de Kock (29 January 1898, Malmesbury, Cape Colony —18 September 1976, Cape Town) was the third Governor of the South African Reserve Bank. His term of office was from 1 July 1945 to 30 June 1962. All South African banknotes issued during the reign of Queen Elizabeth II carry his signature. The Union of South Africa became the Republic of South Africa under the Constitution of the First Republic on 31 May 1961. His signature is also carried on the first issue of Rand The RAND Corporation, doing business as RAND, is an American nonprofit global policy think tank, research institute, and public sector consulting firm. RAND engages in research and development (R&D) in several fields and industries. Since the ... banknotes, which were first issued on 14 February 1961. His successor was Dr. G. Rissik. His son, Dr. G.P.C. de Kock also served as a Governor of the South African Reserve Bank. References 1898 births 1976 deaths Afrikaner people People from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Johannes Postmus
Johannes Postmus (1877 – 1947) was the second Governor of the South African Reserve Bank. His term of office was from 1 January 1932 until 30 June 1945. He was succeeded by Michiel Hendrik de Kock Michiel Hendrik de Kock (29 January 1898, Malmesbury, Cape Colony —18 September 1976, Cape Town) was the third Governor of the South African Reserve Bank. His term of office was from 1 July 1945 to 30 June 1962. All South African banknotes issu .... ReferencesDown Memory Lane: The Economic Society of South Africa, Past Presidents 1923-1963 1877 births 1947 deaths Governors of the South African Reserve Bank {{SouthAfrica-business-bio-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Henry Clegg
William Henry Clegg (born 1867 - died 1945) was the first Governor of the South African Reserve Bank from 17 December 1920 until 31 December 1931. His successor was Johannes Postmus. Early life He was born in 1867 in Stanley, West Yorkshire to father George Clegg. Career His banking career started in September 1886 when he joined the Bank of England. By 1895 he was an assistant to the auditor before becoming a first auditor in 1900. In 1914, he was the principal of the branch banks office and by 1919, the banks chief accountant. In 1920, he was selected as the first governor of the South African Reserve Bank a positioned he served until 1931. After then end of his tenure at the South African Reserve Bank, he was appointed as the chairman of the commission of inquiry into the Hong Kong currency. In 1932, he returned to the Bank of England as a director. Marriage In 1916, he married Elinor Bowen and had two sons and a daughter. Death He died on 16 March 1945 at Stillwood House in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
