SOUTH African Reserve Bank (Sarb) governor Lesetja Kganyago says the central bank also ‘came under attack’ from state capture, like many other state institutions.
But that it fiercely defended its independence.
Speaking as a guest during an interactive online discussion on Wednesday, hosted by independent policy think tank the Centre for Development and Enterprise (CDE), Kganyago conceded that several state institutions were “weakened, while some were totally gutted” by state capture.
He did not specifically name the affected institutions in responding to a question on why independence matters for key institutions like the Sarb, which was posed by webinar host and CDE executive director Ann Bernstein.
Kganyago said that the independence of institutions backed by the Constitution is very important, but that the “quality of institutions matter”.
He pointed out that people who lead such “institutions of the Constitution”- such as the governor of the central bank – are “put
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