The EFF Private bill set to nationalize the South African reserve bank
13 September 2020
On the 20th of August 2020, Economic Freedom Fighter MP Floyd Shibambu addressed the standing committee together with their legal counsel on finance with regards to the reintroduction of the amendment bill of nationalising the South African reserve.
This bill aims to move the South African reserve bank from being privatised to being nationalized to state hands. The reserve bank’s mandate includes determining the interest rates and the issuing of the printing of money.
This are concerns that the nationalisation of the bank may be the first step towards a policy of shifting the bank’s mandate and the printing of money.
Rob Hutchison, MD at Dear South Africa discusses this into greater detail in an interview with ChaiFM on 101.9
To voice your comments you can you can viste the Dear South Africa website.
Benji Shulman is a broadcasters on 101.9 Chaifm. You can follow him on facebook @Benji Shulman or on twitter @ Benji_shulman