The Minister of Finance Tito Mboweni on Tuesday refuted commitments to expand the SA Reserve Bank’s mandate. Photo: Phando Jikelo/African News Agency (ANA)

CAPE TOWN – The Minister of Finance Tito Mboweni on Tuesday refuted commitments to expand the SA Reserve Bank’s mandate after a briefing of the party's NEC Lekgotla stated that this was in the pipeline.

The ANC’s economic transformation head, Enoch Godongwana, also supported the Finance Minister and rejected the party secretary-general Ace Magashule’s statement on the Reserve Bank’s mandate.

Magashule said the Lekgotla tasked the party’s deployees to implement the resolutions of its 2017 national conference in full.

“It was agreed that all deployees will ensure that the resolutions of the 54th national conference will be fully implemented. In this regard, the ANC NEC lekgotla agreed to expand the mandate of the South African Reserve Bank beyond price stability to include growth and employment,” Magashule said.

Minister Mboweni took to Twitter to state that the government was the one that would determine the mandate of the Reserve Bank.




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