EFF's SA Reserve Bank nationalisation Bill: Parliament begins process

EFF's SA Reserve Bank nationalisation Bill: Parliament begins process

- The SA Reserve Bank Amendment Bill will be processed by Parliament in a historic moment for SA

- The EFF had led the calls to transfer ownership of the central bank to the public two years ago

- Now, the party has urged citizens to participate in public engagements to ensure that the bill is passed

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The EFF has welcomed the decision to proceed with public hearings and submissions for the South African Reserve Bank Amendment Bill introduced by its leader Julius Malema two years ago.

The Bill seeks to discontinue private ownership of the South African Reserve Bank with the party explaining that it aims to 'basically legally expropriate' the bank from shareholders and into the ownership of the country itself.

Commenting on the Standing Committee on Finance's decision in a statement released on Wednesday, the EFF said it was unusual for the bank to be privately owned:

"SA is one of the few countries in the world with an anomaly of a privately-owned central bank, and we as the EFF are leading a process that will culminate in transferring the central bank to the ownership of the people as a whole."

EFF leader Julius Malema introduced the motion two years ago. Image: EFF SA/ Instagram
Source: UGC

READ ALSO: Fake booze ban voice note: COGTA announces investigation after chaos

The Red Berets prided itself on being the political party to have led this transformation which it highlighted as an 'important instrument in socio-economic transformation'.

The EFF encouraged citizens to pay close attention to the process and actively participate in public engagement relating to the matter, commenting that:

"We call on all progressive forces to make both written and oral submissions to Parliament to reclaim an asset which under normal democratic processes should belong to the ownership of the people as a whole."

Meanwhile, Briefly.co.za reported that the Department of COGTA has announced an investigation has been launched to find the source of a voice note that prompted chaos in SA on Tuesday.

The voice note had claimed that President Cyril Ramaphosa would announce the return of the liquor ban, encouraging wide-spread panic buying.

The government warned citizens to check information with credible sources, cautioning that spreading fake news on the Covid-19 pandemic remains a punishable offence.

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Source: Briefly.co.za

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