EDITOR’S LUNCHBOX: The SA Reserve Bank and its nationalisation, in bite-sized chunks
Stories of note Bytes from the digital world According to the Reserve Bank’s website, 0.5% of its shares in issue are held by about 650 private shareholders whose annual dividends are capped at 10c per share. Of the R200,000 total dividend it pays a year, the minorites get R1,000. In an interview with Business Times, Reserve Bank governor Lesetja Kganyago did not talk about how a mountain has been made of a molehill by calling the buying of the tiny fraction of the central bank that the government does not already own "nationalisation", but stressed that allowing populist politicians to undermine central bank independence was the route to hyperinflation and disaster.
The ANC, which resolved at its December conference to "nationalise" the Reserve Bank by buying out minorities, has allowed the EFF to take charge.