Breaking News, Parliament, South Africa

Public Protector in-talks with Reserve Bank on her ‘remedial action’

the Public Protector Advocate Busisiwe Mkhwebane
the Public Protector Advocate Busisiwe Mkhwebane

According to reports, the Public Protector Advocate Busisiwe Mkhwebane has began the talks with the South African Reserve Bank on her remedial action for the National Assembly to change the central bank’s mandate, a proposal that has drawn sharp criticism from political parties and investors.

Adv Mkhwebane’s recommended to alter the Reserve Bank’s principal constitutional mandate of maintaining currency and price stability to focus on economic growth.

Both the Reserve bank and parliament indicated have already decided to take her remedial action into a judicial review saying she does not have powers to order constitutional changes in the country.

Mkhwebane has defended her recommendation and said she is ready to be challenged in court.

“I haven’t overstepped and I think those will be the deliberations which we’ll be having further and again. I’ll see how the notice of motion, the content and why are they disputing that. We’ll take it from there,” said Mkhwebane

Mkhwebane has made her proposal on Monday as she delivered her findings on an apartheid-era bailout of Absa which is accused of unduly benefiting from apartheid loans.

The Bank has denied any wrongdoing.