Finance minister Tito Mboweni is seeking to bring an end to the battle for the soul of the National Treasury, which had played out under former president Jacob Zuma's administration and was fast becoming a risk to the country's international credit rating, leaving the Reserve Bank as SA's last bastion of institutional strength. Shortly before delivering his maiden medium-term budget policy statement this week, Mboweni said he was refamiliarising himself with thought processes in the cabinet. But he added: "I thought one of the things I am going to do is try and provide political protection to the National Treasury and, to the extent naively possible, to depoliticise the National Treasury. "I say to the extent naively possible because revenue and allocation, by definition, is highly political. But if we can protect the National Treasury from unnecessary interference, we'll try and do that. It's near impossible but we'll try and do that." Under Zuma, the Treasury was forced to provide...

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 or call 0860 52 52 00. Got a subscription voucher? Redeem it now