ANC agrees to expand mandate of SARB

The ANC held a media briefing to outline the outcomes of its three-day Lekgotla. Courtesy #DStv403

JOHANNESBURG - The ANC NEC has agreed to expand the mandate of the South African Reserve Bank.

It says it wants it to also focus on economic growth and employment.

ANC Secretary General, Ace Magashule addressed the media following the NEC's three-day lekgotla.

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"It was agreed that all deployees will ensure resolutions of the national conference will be implemented," Magashule said.

"The NEC lekgotla also agreed to expand the mandate of the SARB beyond price stability to include growth and employment. You don’t need to change the Constitution for that… It will operate the way it's operating," he said.

The ANC took a resolution in its 54th National Elective Conference to nationalise the bank.


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