Lesetja Kganyago slams Mkhwebane, says she has exposed a 'lack of competency'
Reserve Bank governor Lesetja Kganyago has hit out at public protector Busisiwe Mkhwebane, saying in court papers that her report displayed a “fundamental lack of understanding of the monetary system and the role of central banks”. The Reserve Bank would persist in seeking an order in terms of an earlier notice of motion, to have Mkhwebane’s remedial action concerning a change to the Bank’s constitutional mandate, contained in her Absa/Bankorp report, reviewed and set aside, Kganyago said. This was notwithstanding the fact that Mkhwebane had backtracked earlier this week on the proposed change, saying in an answering affidavit that she would consent to such an order. “Despite the public protector now conceding the merits of the case, she has filed an affidavit in which she seeks to explain “how and for what reasons” she arrived at the remedial action,” Kganyago said. This explanation, instead of offering an apology, simply perpetuated the damage. Her explanation was based on a clear...
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.