New Bundesbank representative in Pretoria
Eugen Töws is the new Bundesbank representative in Pretoria (South Africa). He succeeded Jenny Kilp on 1 August. Töws had previously worked in the Bundesbank’s Directorate General Banking and Financial Supervision.
At the ceremony marking the change of office in Pretoria, Bundesbank Executive Board member Burkhard Balz emphasised in his speech to the many guests from the economic and financial sector and politics the importance of the Bundesbank’s cooperation with the South African Reserve Bank. German ambassador Martin Schäfer pointed out that the embassy in Pretoria benefited greatly from the Bundesbank’s expertise. He went on to describe the South African Reserve Bank as a mainstay of stability in the South African economy, adding that this was why Germany had such a strong interest in continuing cooperation with this institution and in supporting its work.
The Bundesbank’s presence in Pretoria is a reflection of the growing economic importance of the African continent. In this context, South Africa plays a special role both as the continent’s largest financial centre and as the only African G20 member country.
One focal point of the work of the Bundesbank representative in Pretoria concerns joint projects with the South African Reserve Bank. Under a memorandum of understanding signed in 2015, the Bundesbank agreed to cooperation with South Africa’s central bank. The Bundesbank’s South African counterparts are currently especially interested in matters of banking supervision. Given that Eugen Töw has already worked in this field at both the Bundesbank and the European Central Bank, his knowledge and experience will be a particular asset.