Some shareholders trying to exert undue influence on Reserve Bank, Kganyago says
Reserve Bank governor Lesetja Kganyago says the bank has identified certain people amassing shares, which poses a danger to the bank’s independence
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.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.