ROB ROSE: Gigaba's Twin Peaks SUHANA GORDHAN: Advertising for Joburg Ballet that is en pointecontradiction
Why Malusi is wrong on bank rules
Malusi Gigaba flagged the new regulatory regime as one way to bring down banking costs — but it will do exactly the opposite of what he says.
Perhaps it’s fitting that in a society with so much ambiguity, SA is a world leader in unselfconsciously trumpeting mixed messages. Take Malusi Gigaba. A few days ago our dapper finance minister railed against the profligacy of SA Airways ("I want that airline off my list of top priorities," he grumbled) when it was he who installed the wrecking ball that was Dudu Myeni as the airline’s chair in 2012. Last week, in his 14-point policy plan, Gigaba spoke of his plans for the banking sector, which included the goal of "bringing down banking costs by implementing Twin Peaks" from February 2018. It’s not that all his points were bad: it’s just that they were generic and safe — all hat, no rabbit, delivered by an empty suit. Still, it all sounded so warm and fuzzy, you’d almost gloss over the contradictions. Take "Twin Peaks" — the new regulatory regime which will bring down the cost of banking for average South Africans in the same way that scoffing that extra Aero will help you lose th...
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