Real or fake: German man does not own 57.5% of Reserve Bank

Real or fake: German man does not own 57.5% of Reserve Bank

- A viral post on social media claims that a single German national owns more than half of the SA Reserve Bank

- However, this claim is untrue

- The man in question, Michael Duerr, actually owns 10 000 shares in the bank, which amounts to 0.5%

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The claim that German national Michael Duerr owns 57.5% of the Reserve Bank's shares has been circulating on social media.

As politicians and the public debate nationalising the bank, the claim has gained more traction.

However, the latest records indicate that Duerr only owns 0.5% of the Reserve Bank's shares.

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Many within the ANC and EFF have pushed for the Reserve Bank to be nationalised, which would essentially mean that the bank would come under the control of the state. Currently, the bank is controlled by independent shareholders, has gathered.

Other political parties like the DA oppose the nationalisation of the Reserve Bank, however, and the issue is often the cause of much debate online.

It appears that the claims about Duerr's alleged ownership of the bank are intended to fan these political flames. A screenshot of the claim continues to do the rounds on social media, after initially being shared by Mzwandile Masina, the mayor of Ekurhuleni.

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However, there is no evidence to support these claims about Duerr. The claim may have its origins in the fact that in 2014 Duerr's family owned a total of 900 000 Reserve Bank shares, which amounts to 4.5%. Duerr himself, however, only owns 10 000 shares, or 0.5%, according to AfricaCheck. 

Duerr reportedly claims that he and his friends and family together control 12% of the bank's shares, but this figure has not been verified.

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