EFF to table bill in bid to nationalise South African Reserve Bank

EFF to table bill in bid to nationalise South African Reserve Bank

The Economic Freedom Fighters have condemned Finance Minister Tito Mboweni, who dismissed a resolution to nationalise the Reserve Bank. The party says that it would table a bill to realise the nationalisation of the SARB.

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The Economic Freedom Fighters plan to table a bill to allow for the nationalisation of the Reserve Bank when the sixth Parliament reopens.

This comes as the party condemns Finance Minister Tito Mboweni, who rubbished the notion that the SARB would be expanding its mandate.

Briefly.co.za reported yesterday that Mboweni had been responding to comments made by ANC Secretary-General Ace Magashule, claiming that a task team would be established by the ruling party to look into the possibility of nationionalising the institution.

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READ ALSO: Minister Tito Mboweni rubbishes Ace Magashule's Reserve Bank claims

The EFF released a statement in response to Mboweni's comments, claiming that his economic ideas had failed to create jobs, reduce poverty and irradicate inequality.

The red berets feel that private interests must be cut off at the bank, to allow it to fully belong to the people of South Africa.

The party, led by Julius Malema, says that the ANC should show some backbone while implementing their own resolutions, not allowing Mboweni to bully them into silence, reports Eyewitness News.

Meanwhile, Reserve Bank governor Lesetja Kganyago has sided with the Finance Minister, saying that the central bank will continue to operate independently, without allowing for political interference.

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Source: Briefly.co.za

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