EMEA Snap:South Africa,Headlines on SARB nationalisation
This proposal will be placed on discussion, but in practice, changing shareownership of the Reserve Bank makes no difference as to how the SARB operates.
Further to Bloomberg news headlines on the ANC's proposal to nationalizethe SARB, Mr. Enoch Godongwana, ANC Head of Economic TransformationCommittee, gave some clarity in his live address this afternoon:
必赢亚洲988.net， Generally there is a global trend where central bank ownership is in the hands ofthe public sector. In South Africa this is an anomaly, as share ownership mainly inthe hands of the private sector – this has been the case since the 1920s. This issue isnot new, and has been explored before when Gill Marcus was the SARB Governor.But, the independence of the SARB remains enshrined in the Constitution. Thisspecific issue pertains to share ownership by the state.
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