EFF slammed for Reserve Bank nationalisation calls

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The president of the African Change Academy Party, Wandile Tsipa has slammed calls by the EFF for the nationalisation of the Reserve Bank.

EFF leader, Julius Malema has proposed legislative changes to nationalise the Reserve Bank. He submitted a private Bill to Parliament to amend some sections in the South African Reserve Bank Act.

“We are totally against the move by the EFF that the Reserve Bank must be under the government for the following reasons: the South African Reserve Bank has got a very, very important and vital function of stabilising the rate of inflation; the international financial market; the economy of the country.

“And now, if you are saying the Reserve Bank must be under the government, the very same government that has its hands full with the management of the state-owned enterprises like Eskom, South African Airways, SABC, and the whole lot. That cannot be correct, because the South African government has its hands full managing those enterprises,” said Tsipa.

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