ANC ‘must look at Reserve Bank’s mandate’, says ANC KZN chairman Sihle Zikalala
The mandate of the South African Reserve Bank should be put under the microscope by the governing party’s national executive committee (NEC), the ANC’s KwaZulu-Natal chairman, Sihle Zikalala, said on Sunday. There was merit in the recommendations made by Public Protector Busisiwe Mkhwebane on changing the mandate of the Bank and this needed proper discussion in ANC structures, Zikalala said. His province wants an NEC investigation into the matter and a report on it tabled before the national conference in December so that it can be discussed there. But Gauteng chairman Paul Mashatile said the Bank was working well, and that there were no proposals in the ANC’s policy document to change its ownership or monetary policy. Zikalala and Mashatile are on opposing sides of the factional divide in the party. Mashatile said the issue of inflation targeting was important, because even at higher level of growth, inflation needed to be managed. He said the ANC needed to tread carefully around t...
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