Reserve Bank trends as Mboweni opposes its nationalisation

15 January 2020 - 10:27 By Cebelihle Bhengu
Finance minister Tito Mboweni has opposed the nationalisation of the SA Reserve Bank.
Finance minister Tito Mboweni has opposed the nationalisation of the SA Reserve Bank.
Image: Esa Alexander

Finance minister Tito Mboweni's response to the ruling party's resolution to nationalise the SA Reserve Bank has seen scores of people flock to Twitter as the public attempts to make sense of it all.

Mboweni was again responding to the ANC's Nasrec policy conference resolution of 2017, and maintained that the idea to nationalise the bank was a mistake.

In a series of tweets, Mboweni questioned what the ANC sought to achieve by nationalising the bank, and called for the matter to be debated publicly as opposed to internally, by the party's National Executive Committee.

The senior leadership of the ANC has long been divided on the Reserve Bank matter.

Last year, Ace Magashule told journalists that the ANC had resolved to expand the bank's mandate, saying it would help ease the country's poverty and unemployment. Enoch Godongwana rejected this, saying no decision had been made.

Mboweni excluded himself from the decision-making process and said the government had to come up with a SARB mandate.

This is what tweeps had to say in response to Mboweni's questions:


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