Adv Mkwebana overreaching in Reserve Bank remedial actions?

Date: Jun 20, 2017

The Public Protector Advocate Busiswe Mkhwebane has directed parliament in her remedial action in the review CIEX report to change the Act governing the powers for the Reserve Bank.

There’s been criticism of Public Protector Advocate Busiwe Mkwebana’s recommendations that the mandate of the Reserve Bank be changed. 

Advocate Mkhwebane has found that government acted improperly by failing to act on the CIEX report and that SARB failed to recover a R1.billion bailout paid to Bankorp which was bought by ABSA. 

Political Economist David van Wyk says the Reserve Bank is a private Bank that is masquerading as a reserve Bank adding that the reserve Bank must be accountable to the people of South Africa not its shareholder.

Speaking to Sakina Kamwendo during #AMLive Van Wyk says the Reserve Bank is not failing its current mandate and should be accountable to South Africans and not its private shareholders. 

LISTEN to full interview

The Economic Freedom Fighters, the United Democratic Movement and African Christian Democratic Movement in Parliament have unanimously welcomed the Public Protector's findings that ABSA Bank must be investigated.

Reserve Bank to challenge public protector report


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