'So, who do we believe?': Mzansi in the dark after clashing Reserve Bank statements

05 June 2019 - 11:39 By Cebelihle Bhengu
Finance minister Tito Mboweni contradicted Enoch Godongwana on the central bank's policy expansion.
Finance minister Tito Mboweni contradicted Enoch Godongwana on the central bank's policy expansion.
Image: ESA ALEXANDER/SUNDAY TIMES

South Africans are in the dark about the ANC's stance on the Reserve Bank's policy following contradictory statements by the party's secretary-general, Ace Magashule, finance minister Tito Mboweni and ANC economic transformation head Enoch Godongwana on Tuesday.

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Ace Magashule

Magashule told journalists that the party had decided at the national executive committee (NEC) lekgotla at the weekend to expand the Bank's mandate in order to  ease the country's poverty, unemployment and inequality. 

"It was agreed that all deployees will ensure that resolutions of the 54th national conference be fully implemented. In this regard, the ANC NEC lekgotla agreed to expand the mandate of the Reserve Bank beyond price stability to include growth and employment."

Enoch Godongwana

However,  Godongwana disputed that any decision had been taken regarding the central bank. Instead, he said the Bank's head and the finance minister would work closely in evaluating the country's economic performance.

Tito Mboweni

Finance minister Tito Mboweni weighed in on the matter on Twitter, contradicting Godongwana in a sense by excluding himself from the decision-making process.He said it was the government that formulated the central bank's policies. 

South Africans have expressed concern over the clash.


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