Sarb chief economist announces early retirement

The South African Reserve Bank (Sarb) today (September 4) announced that Monde Mnyande, the chief economist and adviser to the governor, has opted to take early retirement as of January 1, 2013.

The MPC stalwart, who has served as a member since August 2004, is currently serving a "cooling-off period", effective from September 1 to December 31, 2012, according to the central bank. No detail was given as to whether he will continue with his responsibilities at the Sarb during this period.

Mnyande was a member of the central bank's Financial Stability Committee and chaired the board of the South African Reserve Bank Captive Insurance Company Limited. He previously held a number of positions in the research department before becoming head of the department, chief economist and an executive general manager in the South African Reserve Bank in February 2006.

In a brief statement posted on the central bank's website, Mnyande was thanked for the 17 years of uninterrupted service and the leadership he provided. "We wish him well in his future endeavours," the note added.