DA to write to Mboweni over ANC manifesto's SARB remarks

fin24.com

- fin24.com | 6 months ago

Democratic Alliance Member of Parliament Alf Lees announced in a statement that he would write to Minister of Finance Tito Mboweni seeking clarity on the governing African National Congress’s election manifesto commitment to changing the mandate of the South African Reserve Bank.

While ANC general secretary Ace Magashule told eNCA that nationalising the Reserve Bank was a 2017 elective conference resolution, the ANC’s manifesto said that the South African Reserve Bank needed to become more "flexible" as well as play a role in reducing unemployment, poverty and inequality. This comes after Reserve Bank governor Lesetja Kganyago said the institution survived a time of great political pressure to control it.

The Economic Freedom Fighters introduced the South African Reserve Bank Amendment Bill which proposes more powers for the finance minister.

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