EDITORIAL: Heed Sim Tshabalala’s Reserve Bank warning
Some within the ANC have been bleating about ‘nationalising’ the Bank for years – a move they argue will boost the economy
Sim Tshabalala is, as you would expect from the CEO of Africa’s largest bank by assets, a man of scrupulously considered opinions, not known for making extravagant claims that have no merit. So when he writes in Standard Bank’s annual report that "the integrity and independence" of the SA Reserve Bank must be defended, you know he’s not exaggerating the threat. Tshabalala flags the proposal to "nationalise" the Bank as even worse than the threat of prescribed assets — a policy in which the state forces institutions to put their money into projects chosen by the politicians. Some within the ANC have been bleating about "nationalising" the Bank for years — a move they argue will boost the economy.
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