{"id":366584,"date":"2020-01-15T16:51:29","date_gmt":"2020-01-15T14:51:29","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=366584"},"modified":"2020-01-15T16:51:48","modified_gmt":"2020-01-15T14:51:48","slug":"anc-muzzles-mboweni-over-reserve-bank-comments","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/366584\/anc-muzzles-mboweni-over-reserve-bank-comments\/","title":{"rendered":"ANC muzzles Mboweni over Reserve Bank comments"},"content":{"rendered":"<p>The ANC has issued a statement rebuking finance minister Tito Mboweni for his comments on the party&#8217;s plan to nationalise the Reserve Bank.<\/p>\n<p>In the statement &#8211; which was published on <strong><a href=\"https:\/\/twitter.com\/MYANC\/status\/1217453635199754241\/photo\/1\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a> <\/strong>&#8211; the party warned that Mboweni&#8217;s comments presented the ANC as a divided party that did not present a coherent message.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/MYANC?ref_src=twsrc%5Etfw\">@MyANC<\/a> URGES LEADERS TO RESPECT CONFERENCE RESOLUTIONS AND TO REFRAIN FROM ENGAGING IN PUBLIC SPATS <a href=\"https:\/\/t.co\/LkL0FBVgUD\">pic.twitter.com\/LkL0FBVgUD<\/a><\/p>\n<p>\u2014 African National Congress (@MYANC) <a href=\"https:\/\/twitter.com\/MYANC\/status\/1217453635199754241?ref_src=twsrc%5Etfw\">January 15, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;It is our view that Comrade Tito should act with care and be cautious at all times on matter of policy given his position as the minister of finance, including subjecting himself to overall communications protocols of the African National Congress.<\/p>\n<p>&#8220;Those who serve in leadership structures of our movement, especially within the National Executive Committee (NEC), the highest decision-making body in between conferences, are expected at all times to uphold and defend resolutions of the ANC on public platforms.&#8221;<\/p>\n<p>It added that any &#8220;public spats initiated without any form of provocation feeds into the narrative of a lack of policy certainty.&#8221;<\/p>\n<p>The statement said that it encourages all leaders and members of the ANC to exercise their freedom of speech as long as it was done within the confines of the ANC&#8217;s structures.<\/p>\n<p><strong>Hot water<\/strong><\/p>\n<p>The rebuke comes after Mboweni published a series of <strong><a href=\"https:\/\/twitter.com\/tito_mboweni\/status\/1217117125824983040\" target=\"_blank\" rel=\"noopener noreferrer\">tweets<\/a>\u00a0<\/strong>on Tuesday evening (14 January) stating that he was unsure as to what the ruling party hoped to achieve by nationalising the central bank.<\/p>\n<p>He also\u00a0hinted that the loss of the central bank&#8217;s independence may ultimately hamper structural economic reforms in the country.<\/p>\n<p>He said that the public should have a greater say on the decision and invited followers on Twitter to voice their opinion on the issue.<\/p>\n<p>The ANC said in a <strong><a href=\"https:\/\/businesstech.co.za\/news\/government\/365600\/from-saving-saa-to-land-expropriation-without-compensation-here-are-the-ancs-plans-for-south-africa\/\" target=\"_blank\" rel=\"noopener noreferrer\">statement<\/a>\u00a0<\/strong>last week, that its national executive committee will continue with its plans for nationalisation in a responsible manner.<\/p>\n<p>\u201cIn line with the resolutions of the 54th National Conference, we reaffirm the role, mandate and independence of the Reserve Bank, and will undertake the process towards full public ownership of the Bank in a manner and according to a time frame that is prudent and affordable and that does not benefit private shareholder speculators,\u201d it said.<\/p>\n<p>Parliament officially <strong><a href=\"https:\/\/businesstech.co.za\/news\/business\/353285\/south-africa-looks-at-new-law-to-nationalise-the-reserve-bank\/\" target=\"_blank\" rel=\"noopener noreferrer\">revived<\/a>\u00a0<\/strong>the bill which proposes the nationalisation of the Reserve Bank in 2019.<\/p>\n<p>Mboweni has been on somewhat of a tirade on social media in 2020. Last week, the minister urged the government to crack on with economic reforms.<\/p>\n<p>&#8220;Structural Economic Reforms Inertia is frustrating. Let\u2019s get on with it. Movement!! Many steps at a time!!&#8221; the minister said.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">If you cannot effect deep structural economic reforms, then game over! Stay as you are and you are down graded to Junck Status!! The consequences are dire. Your choice. Yep!! Askies!!<\/p>\n<p>\u2014 Tito Mboweni (@tito_mboweni) <a href=\"https:\/\/twitter.com\/tito_mboweni\/status\/1215441642892746752?ref_src=twsrc%5Etfw\">January 10, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/finance\/366290\/mboweni-tweets-that-nationalising-the-reserve-bank-is-the-wrong-move\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mboweni tweets that nationalising the Reserve Bank is the wrong move<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ANC has issued a statement rebuking finance minister Tito Mboweni&#8217;s for his comments on the party&#8217;s plan to nationalise the Reserve Bank.<\/p>\n","protected":false},"author":10,"featured_media":349907,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[26],"class_list":["post-366584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/366584","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=366584"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/366584\/revisions"}],"predecessor-version":[{"id":366606,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/366584\/revisions\/366606"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/349907"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=366584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=366584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=366584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}