{"id":195514,"date":"2017-08-30T14:38:11","date_gmt":"2017-08-30T12:38:11","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=195514"},"modified":"2017-08-30T14:38:11","modified_gmt":"2017-08-30T12:38:11","slug":"the-reserve-bank-cant-be-allowed-to-be-independent-from-the-anc-government-dlamini-zuma","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/195514\/the-reserve-bank-cant-be-allowed-to-be-independent-from-the-anc-government-dlamini-zuma\/","title":{"rendered":"The Reserve Bank can’t be allowed to be independent from the ANC government: Dlamini-Zuma"},"content":{"rendered":"

ANC presidential candidate Dlamini-Zuma has echoed public protector Busisiwe Mkhwebane’s belief that the South African Reserve Bank should change its mandate to uplift the country’s poorest.<\/p>\n

This opposition to the central bank’s independence was, however, not one of the major talking points at\u00a0Dlamini-Zuma’s\u00a0Gordon Institute of Business Science (GIBS) appearance,\u00a0<\/strong>despite featuring heavily in the publicly-available transcript of her speech.<\/p>\n

The transcript <\/a><\/strong>states that Dlamini-Zuma, among other issues, stands for a developmental state with macroeconomic management, prioritising job creation, skills development, enhanced service delivery, Black Economic Empowerment programmes and overall better and more affordable access to finance.<\/p>\n

“In order to achieve this we must ensure that the South African Reserve Bank will not hold onto an amorphous \u2018independency\u2019, but has as its clear and deliberate task to implement the developmental policies of the people\u2019s orientated developmental plan of the majority ANC government,” Dlamini-Zuma’s speech notes say.<\/p>\n

“I reiterate again that it just simply cannot any longer be allowed that the Reserve Bank be policy independent from government. The Reserve Bank must be aligned to support and implement government’s economic transformation policy. Furthermore the private ownership of shares in the Reserve Bank must cease, and government must be the sole owner of all Reserve Bank shares.”<\/p>\n

Dlamini-Zuma further called for the establishment of a state bank that must be dedicated to promoting and funding black entrepreneurship through making affordable capital available.<\/p>\n

In line with other radical economic transformation policies, Dlamini-Zuma\u00a0also outright rejected the “willing buyer, willing seller” approach to land reform and should be replaced with “land restitution without compensation”.<\/p>\n

“The economy must be in the hands of a democratic government that controls the execution of its policies through a developmental state.”<\/p>\n

“Such a democratic government is indeed the only institution that can justly claim to represent us all. It is also the democratically representative that should be the custodian of what the South Africa should actually be that we aspire to have.”<\/p>\n

\n

Read:\u00a0How many days you spend working to pay tax every year<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

ANC presidential candidate Dlamini-Zuma has echoed public protector Busisiwe Mkhwebane’s belief that the South African Reserve Bank should change its mandate to uplift the country’s poorest.<\/p>\n","protected":false},"author":10,"featured_media":150888,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[12244,26],"class_list":["post-195514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-dlamini-zuma","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/195514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=195514"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/195514\/revisions"}],"predecessor-version":[{"id":195528,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/195514\/revisions\/195528"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/150888"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=195514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=195514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=195514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}