UPDATE 2-South Africa's ANC says central bank nationalisation won't affect mandate [Reuters]
BIDVEST GRP LTD S/ADR (BDVSY)
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Source: Reuters
South Africa's ANC says central bank nationalization won't affect mandate - Reuters 3 Min Read JOHANNESBURG (Reuters) - The plans of South Africa’s ruling African National Congress (ANC) to nationalize the central bank will be implemented responsibly and will not affect the institution’s mandate or independence, party officials said on Tuesday. Unlike most central banks in the world, the South African Reserve Bank (SARB) is privately owned, but the ANC resolved at a party conference in December 2017 to move it into full state ownership. Party officials on Tuesday sought to emphasize that they would tread carefully after SARB Governor Lesetja Kganyago said last week that a debate over ownership of the central bank was increasing investor uncertainty and fuelling the risk premium attached to the country’s debt. “Our position on the nationalization of the reserve bank has not changed,” ANC Secretary General Ace Magashule told reporters. “All the decisions which must be implemented, must
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