JOHANNESBURG – Public Protector, Busisiwe Mkhwebane, has conceded she was wrong to order a change in the South African Reserve Bank's mandate.
Mkhwebane has announced that she won’t oppose the bank's application to overturn her findings.
Mkhwebane made the recommendation in her report on the Reserve Bank’s bail-out of Bankcorp. The bank approached the court to review the finding, arguing that a stable currency is essential for economic growh.
Parliament and Minister of Finance Malusi Gigaba also joined the legal bid against Mkhwebane.