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>Lesetja Kganyago | Remarks at the dinner for Heads of Foreign Missions

South African Reserve BankRef: POST-2019

Official source

Source domain: resbank.co.za

Collected on 13 July 2026

Always confirm details on the official source before acting.

Our copy (archived 20 July 2026)Official source

What this means

This document is a speech/remarks by Lesetja Kganyago, Governor of the South African Reserve Bank (SARB), delivered at the annual dinner for Heads of Foreign Missions accredited in South Africa. The remarks (dated 9 July 2026) discuss global developments since 2019, including inflation pressures, conflicts, AI, and attacks on multilateralism and central bank independence. It also highlights South Africa’s post-2019 progress (e.g., credit rating upgrades, exiting the FATF greylist, ending load-shedding in 2024, and a new 3% inflation target) and explains recent SARB monetary policy actions in response to inflation shocks.

Facts

Places

eThekwini, KwaZulu-Natal

Reference

POST-2019

Key Takeaways

  • Speaker: Lesetja Kganyago (Governor, South African Reserve Bank)
  • Event: Annual dinner for Heads of Foreign Missions accredited in South Africa
  • Date: 9 July 2026
  • Main themes: multilateralism, central bank independence, global inflation and conflicts, AI and fiscal policy
  • South Africa updates: credit rating upgrades (Fitch, S&P), Moody’s positive outlook, exited FATF greylist
  • Monetary policy: new inflation target of 3%; rate increases in May due to supply shock and inflation expectations
  • South Africa progress: load-shedding ended in 2024; Durban port improvement; sovereign debt expected to stabilise
  • Lesetja Kganyago
  • South African Reserve Bank (SARB)
  • Heads of Foreign Missions
  • Fitch
  • S&P (Standard & Poor’s)
  • Moody’s
  • Financial Action Task Force (FATF)
  • Vladimir Lenin

Dates

Closing Date

9 July 2026