ANC Lekgotla reaffirms commitment to changing SARB mandate

- | 4 months ago

African National Congress secretary general Ace Magashule told reporters in Johannesburg on Tuesday that the governing party’s National Executive Committee resolved at the latest Lekgotla that the South African Reserve Bank’s mandate should be expanded.

This NEC is the ANC’s highest decision-making body between national conferences. The Lekgotla of the past weekend’s resolution, regarding the Reserve Bank, is also in line with a similar resolution from the party’s 54th national conference in 2017.

Subscribe to Fin24’s newsletter here This again muddies the waters on the Reserve Bank’s fate, even as Reserve Bank Governor Lesetja Kganyago has been vocal about not tinkering with the mandate of the SARB and preserving its independence.

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