Johannesburg - This follows after the North Gauteng High Court today ruled
in favour of the SARB, affirming its independence from whatever undue
influences that may exist.
Advocate, Busisiwe Mkhwebane, the Public Protector, ordered
Parliament on June 17 to amend the SARB’s mandate in the Constitution.
According to Mkhwebane’s proposed amendment, the SARB would
have focused on the socio-economic well-being of citizens, rather than
protecting the value of the rand and focussing on economic growth.
Public Protector Busisiwe Mkhwebane Photo: Phil Makgoe/Independent Media
Armand Greyling, Law and Policy Analyst said: “The Public
Protector has effectively been put in her place and this should serve as a
warning to other public bodies who attempt to meddle in the affairs of
independent institutions.
We dare not find ourselves in a situation where a central
bank can be commandeered and stripped of its independence and responsibilities
to meet political agendas. We commend the Court’s decision and the SARB for standing
up to the Public Protector’s incorrect application of the law.”