South Africa’s ruling party has taken a decision to nationalise the South African Reserve Bank and it will be implemented, President Cyril Ramaphosa has said. Ramaphosa’s comments come a day after he was scheduled to meet with Reserve Bank Governor Lesetja Kganyago in Cape Town. Kganyago on Wednesday emphasised the importance of central bank independence in a speech on a university campus. The central bank is one of the most important institutions in the life of our country. What you need to know about The Reserve Bank’s ownersThe Reserve Bank has about 770 shareholders and 2 million shares outstanding.

Source: News 24 March 07, 2019 14:06 UTC