The Reserve Bank says it will sell 150,000 of its shares owned by people who have exceeded limits set by a court to prevent undue influence in the regulator. Reserve Bank governor Lesetja Kganyago told reporters on Thursday that the bank had identified certain people amassing shares, and that this posed a danger to the bank’s independence. He did not identify the shareholders. "These shareholders who decided to buy shares as families and as associates, you could see that they were trying to exert undue influence, or influence disproportionate to the statutory limit," Kganyago said. Shares in the bank may be acquired by means of an over-the-counter share trading facility, and earn a dividend of 10c per share a year.

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