EFF is one step closer to nationalise Reserve Bank

Aug 17th, 2018 Lubabalo Poswa 942 Views

JOHANNESBURG – The leader of Economic Freedom Fighters (EFF), Julius Malema, has introduced a Bill to nationalise the central bank, Parliament said late on Thursday.

The South African Reserve Bank Amendment Bill would “make the state the sole holder of the shares in the bank” and “provide for the appointment of certain board directors by the (finance) minister”, according to a copy of the bill posted on parliament’s website.

The ruling ANC resolved at a party conference in December to move to full state ownership of the bank, saying the current ownership structure was a “historical anomaly”. Video: Sandisiwe Ntlemeza/ANA