Outspoken finance minister Tito Mboweni was reprimanded by President Cyril Ramaphosa on Monday after he waded into the sudden firing of the central bank governor in Zambia, a move that led to a sharp sell-off in that country’s assets on Monday. The rand was left unscathed.

Mboweni, who headed the Reserve Bank for a decade as its first black governor after the end of apartheid, is a fierce proponent of central bank independence. He took to Twitter to criticise president Edgar Lungu for firing Zambian governor Denny Kalyalya over the weekend.

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