Visiting universities is a critical step towards empowering students, as future leaders, to understand the role of the South African Reserve Bank (SARB).

Dr Mampho Modise, Deputy Governor of the SARB, made this observation during her prestige lecture on 21 October 2024, at the North-West University (NWU), Potchefstroom Campus.

In her lecture, Dr Modise outlined the role of the SARB and spoke about the importance of monetary policy, financial stability and economic statistics.

The lecture, arranged by the university’s Faculty of Economic and Management Sciences, was a platform for the SARB to interact with the academic community and highlight how its decisions impact the lives of South Africans.

“As part of the Reserve Bank’s transparency and sharing of information in getting people to understand what the Bank does, its mandate, and why it makes certain decisions, platforms such as prestige lectures provide such opportunities,” Dr Modise said.

“We have structured programmes such as Talk to the SARB, the Monetary Policy Forum and the Schools Challenge, but coming to universities is one critical factor of achieving our objective of getting students to understand the role of SARB as future leaders,” she said.

Student engagement with decision-makers

Professor Linda du Plessis, acting deputy vice-chancellor: Teaching and Learning and vice-principal introduced Dr Modise, who was recently appointed as Deputy Governor by President Cyril Ramaphosa. She has a wealth of fiscal and economic experience, having previously served as Deputy Director-General at the National Treasury.

“A prestige lecture such as this one provides students and staff with new perspectives, opinions and personal experiences that reinforce teachings in the classrooms, and also provides students with an opportunity to engage in their disciplines from their perspectives,” said Prof du Plessis.

Professor Babs Surujlal, executive dean of the Faculty of Economics and Management Sciences, commended the university management for endorsing initiatives that facilitate direct engagement between students and prominent decision-makers. He expressed his appreciation for the Deputy Governor's high-level insights, which were presented in a manner conducive to student engagement.

At the conclusion of her lecture, Dr Modise restated the SARB's unwavering commitment to upholding price stability.

“As emphasised previously, we are continuously monitoring price developments and stand prepared to take necessary action to fulfill our mandate. Operating as an independent central bank within a flexible inflation-targeting framework, SARB’s principal objective is to steer inflation and inflation expectations toward the midpoint of the target band.”

Dr Modise said it is widely acknowledged that low and stable inflation is a fundamental prerequisite for fostering a conducive business environment, thereby promoting inclusive and sustainable economic growth. “Our steadfast commitment remains focused on ensuring price stability,” she concluded.

Dr Mampho Modise, Deputy Governor of the SARB.

From Left to Right: Prof Babs Surujlal: executive dean of Faculty of Economics and Management Sciences, Prof Linda du Plessis: acting deputy vice-chancellor: Teaching and Learning and vice-principal, Dr Mampho Modise: deputy governor of the South African Reserve Bank, Mr. Clement Manoko executive director: Corporate Relations and Marketing, Prof Raymond Parsons: professor at the NWU Business School and Prof Useh Ushotanefe: deputy dean: Community Engagement and Stakeholder Relations.

Attendees listen intently during the prestige lecture.