The Banking Association of South Africa has poured cold water over the excitement surrounding President Cyril Ramaphosa’s statements in parliament, ostensibly underpinning the call to nationalise the South African Reserve Bank.
“As the governing party, we have taken a very clear resolution. The Reserve Bank of our country should be owned by the people of South Africa. That is an important consideration. Basa CEO Cass Coovadia said he was reluctant to comment on whether Ramaphosa was simply referring to external shareholding or actual nationalisation in which the state fully owned the bank.“I think we have to certainly accept that we are in a pre-election period and there will be some rhetoric, and so we accept that within that context. To us the most crucial thing is that the independence of the bank is protected,” he said.
“In many ways, the focus on the ownership of the bank is a red herring – we would prefer the status quo to remain where there are private shareholders who have no say over the governance of the bank,” he said.
Source: Financial Digest (financialdigest.net)
alfred_cabonena We need to fight back against the ignorant arrogant populists of EFFSouthAfrica & MYANC, these communist bastards want to drag this country down to the depths of a socialist hell, we must lobby western governments to impose harsh sanctions on this evil regime.
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