Public Protector Busisiwe Mkhwebane overstepped her mandate by ordering changes to the mandate of the Reserve Bank, ANC treasurer-general Zweli Mkhize says. "We don’t mind her that she has made findings against Absa and on the lifeboat — that is her job," he said in an interview with Business Day. "What concerns us is when her remedial action impacts on the Reserve Bank, even affecting a constitutional change to its mandate. "We think that is basically beyond her mandate. It’s beginning to straddle policy making. It is inappropriate," he said. Mkhize warned that the remedial action proposed by Mkhwebane would have a negative impact on the independence of the Reserve Bank. The Bank has indicated that it is challenging Mkhwebane’s report in court as it has been advised that the remedial action falls outside of the powers of the public protector. "The amendment would, if effected, strip the Reserve Bank of its key competency to protect the value of the currency and the well understood ...
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