The head of the governing African National Congress’s economic transformation committee last week raised the prospect of widening the South African Reserve Bank’s mandate to help create more jobs and support transformation in the nation’s financial industry.
Godongwana’s comments are further evidence that President Cyril Ramaphosa, who is expected to stand for a second term as leader of the ANC at an elective conference in December, has managed to keep his economic policy intact despite opposition from within the party. South Africa has a 34.5% unemployment rate — the highest on a global list of 82 nations monitored by Bloomberg. The Thomas Piketty-backed World Inequality Lab ranks South Africa as the world’s most unequal nation for which wealth data is available.
Source: News Formal (newsformal.com)
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Reserve Bank’s role at issue as ANC holds sombre crisis talks on economic policyANC holds talks on five key areas — unemployment, the need for a state bank, land expropriation, energy security and the Bank’s mandate What is so wrong to expand that mandate to carter for unemployment and other stuff? Just copy & paste the mandate of the Reserve Bank of New Zealand in SA. It takes a special kind of stupid to oppose that. Imagine the oppressed opposing what can help alleviate economic inequality China has Construction, Agricultural Banks & more designed to stir rural development b/c they know internal economy is 80% of any country's economy - even Rwanda has that. Any African opposed to changing the mandate of the Reserve Bank is a house nigger & traitor to its own pple There are only two options available for the majority of our people. Change the mandate of the Reserve Bank or create a Central Bank of SA and render the Reserve Bank obsolete in the interest of the majority of our people. Is there any people on earth who love oppression as SAns?
Source: BDliveSA - 🏆 12. / 63 Read more »
Reserve Bank’s role at issue as ANC holds sombre crisis talks on economic policyANC holds talks on five key areas — unemployment, the need for a state bank, land expropriation, energy security and the Bank’s mandate ANC's attempt at reinventing the wheel being hampered by remaining obstacles to state capture.
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WATCH | Eskom debt is unsustainable and we've got to step in, says finance minister GodongwanaFinance minister Enoch Godongwana says Eskom's debt is unsustainable and the National Treasury needs to step in. No! Eskom better learn better debt collection. Treasury is our tax money let’s not use it just because Eskom is failing to collect the money. That shortcut you’re proposing is unsustainable and stupid political thinking….
Source: TimesLIVE - 🏆 28. / 59 Read more »
WATCH | Eskom debt is unsustainable and we've got to step in, says finance minister GodongwanaFinance minister Enoch Godongwana says Eskom's debt is unsustainable and the National Treasury needs to step in.
Source: TimesLIVE - 🏆 28. / 59 Read more »