President Cyril Ramaphosa has reaffirmed the constitutional mandate of the South African Reserve Bank, saying it should be pursued without “fear, favour or prejudice”.
President Cyril Ramaphosa has reaffirmed the constitutional mandate of the South African Reserve Bank , saying it should be pursued without “fear, favour or prejudice”.
The SARB has become a proxy battle against Ramaphosa by a faction in the ANC aligned to Magashule, after the ANC’s national conference in 2017 resolved on nationalising the bank and reviewing its mandate. Ramaphosa had said two weeks ago in a statement from his office in Luthuli House, that nationalisation was unaffordable at present.
“Today we reaffirm this constitutional mandate, which the Reserve Bank must pursue independently, without fear, favour or prejudice,” he said.
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