BUSINESS NEWS - The Banking Association of South Africa (Basa) has poured cold water over the excitement surrounding President Cyril Ramaphosa’s statements in parliament, ostensibly underpinning the call to nationalise the South African Reserve Bank.
Addressing parliament during his last pre-election question and answer session yesterday, Ramaphosa sought to clarify the ANC’s position on the proposed nationalisation of the bank, making an example of the nationalised Bank of England in the UK.
“As the governing party, we have taken a very clear resolution. The Reserve Bank of our country should be owned by the people of South Africa. That is an important consideration.
“What we do have is a situation where we have external shareholders … who live in various countries and work in various countries and so forth,” he said.
