anc factionalism
No Ace in the hole
Cyril Ramaphosa had to walk back the ANC secretary-general’s comments on the Reserve Bank last week – a move that simply gives the lie to the party’s façade of unity
13 June 2019 - 05:00
After days of messy confusion, President Cyril Ramaphosa finally came out late last week to announce that the ANC will not push for the nationalisation of the SA Reserve Bank because it is "simply not prudent". The Bank’s mandate, as laid out in the constitution, will not change, he said.
Ramaphosa’s statement came two days after ANC secretary-general Ace Magashule announced that the party’s national executive committee (NEC) had decided at its weekend lekgotla that the Bank’s mandate would be expanded beyond price stability to include growth and employment...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.