ANC wants stokvels, taxi associations and burial societies to own Reserve Bank

Zingisa Mvumvu

The ANC wants the SA Reserve Bank to be owned by, among others, stokvels, taxi associations and burial societies.

This was stated by ANC acting spokesperson and national executive committee member Dakota Legoete during the party’s post-annual lekgotla press briefing at Luthuli House on Tuesday, as debate around “nationalisation” of the central bank rages on.

Legoete echoed both President Cyril Ramaphosa and ANC secretary-general Ace Magashule on their individual takes on the issue, saying there was no contradiction as the former had addressed independence of the bank while the latter had addressed ownership – two issues that could not be conflated.

According to Legoete, nationalisation of the Bank was going to happen – but the Bank would keep its independence.

“By public ownership of the Reserve Bank we mean that that public investment companies like the PIC, the IDC, like stokvels that we have, like agricultural unions, like