ANC’s resolution to nationalise the Bank is based on a misunderstanding of what it does, says the governor
Governor says ANC’s resolution to nationalising the Bank is based on misunderstanding of what it really doesReserve Bank governor Lesetja Kganyago. Picture: FREDDY MAVUNDA
The ANC decided at a conference in late 2017 to nationalise the Bank, which is one of a handful globally owned by private investors. The shareholders have no say over monetary policy decisions and the central bank’s mandate — to target inflation — is set by the government. “It doesn’t matter how much you explain, in the end people won’t say ‘we want to feel we have nationalised it and that’s it’. To what end is not what anybody answers.”
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