On a day marred by news that the economy had its biggest contraction since the depths of the global financial crisis, ANC secretary-general Ace Magashule dropped economic bombs, saying the party would expand the mandate of the Reserve Bank and explore the use of quantitative easing to deal with government debt.

Several hours later, the head of the ANC’s economic transformation committee, Enoch Godongwana, issued a statement, contradicting Magashule and saying that consideration of quantitative easing was not on the ANC agenda and that there was no decision by the ANC to expand the mandate of the central bank.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now