Reserve Bank’s seeks mandate in court after ‘remedial action’ upheaval
Governor Lesetja Kganyago says the central bank remains resolute in its mandate and will not yield to political pressure
The high court is due to hear the highly anticipated review application by the Reserve Bank of Public Protector Busisiwe Mkhwebane’s remedial action on the Bank’s mandate. Speaking ahead of the case at the Bank’s annual general meeting last week, governor Lesetja Kganyago said the Bank remained resolute in its mandate and would not yield to political pressure. Kganyago submitted an application to the High Court in Pretoria to review and set aside sections of Mkhwebane’s report on the apartheid-era lifeboat granted to Bankorp, which was subsequently acquired by Absa. Mkhwebane has said she will not oppose the Bank’s review application.
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