Bill to nationalize South Africa's central bank back in parliament

kfgo.com

- kfgo.com | 3 months ago

CAPE TOWN (Reuters) - An opposition politician's bill to nationalize the South African central bank that spooked investors when first unveiled a year ago has been revived and referred back to lawmakers, parliamentary papers showed on Tuesday.

The reintroduction of the bill comes at an awkward time for President Cyril Ramaphosa, who is on an investment drive to boost an ailing economy. He has to juggle his pro-business approach with left-leaning elements of the ruling African National Congress that want to legislate for land expropriation without compensation, among other policies.

Introduced by leftist politician, Julius Malema, in August last year, the bill lapsed when a new parliament was elected in May.

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