ANC, EFF ‘engaging’ on Reserve Bank nationalisation
The African National Congress (ANC) and Economic Freedom Fighters (EFF) are discussing the red berets’ move to nationalise the South African Reserve Bank (SARB).
The EFF has submitted a new bill which would ultimately see the government own the SARB.
The red berets have proposed a Private Members’ Amendments Bill to the Reserve Bank Act.
The Office of the ANC Chief Whip in Parliament says it is currently scrutinising and engaging with the EFF on the proposed legislation.
Spokesperson Noncemba Mhlauli says National Assembly Speaker Baleka Mbete received the bill on Thursday and referred it to the Portfolio Committee on Finance.
“Depending on the interactions and consultations caucus will have with the leadership of the ANC - we will them determine the desirability of the bill as to whether or not it’s in line with current ANC policy on the matter,” says Mhlauli.
The proposed bill aims to make the state the sole holder of the shares in the country’s central bank.
The EFF has been very vocal about the nationalisation of mines, banks and other strategic sectors of economy.