We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Politicians and banks make for a toxic mix anywhere in the world. That is one reason why the independence of the Reserve Bank is paramount. It is also why the laws and regulations governing banks must ensure they operate to the highest global standards. The "nationalisation" of the Bank has been put back on the agenda by the EFF, although it is not clear why. It tabled a bill last week that seeks to make the state the sole shareholder of the Bank and for its directors to be appointed by the finance minister, rather than by shareholders. I doubt the EFF’s constituency cares whether the Bank has private shareholders or not, especially as it functions according to statute, not to shareholder whim. It does provide an avenue to embarrass the ANC, which adopted nationalisation of the Bank at its elective conference in December but has since done nothing about it. It also potentially creates a windfall for existing Bank shareholders who may demand a premium to be bought out. The Bank earne...

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 articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.