Kganyago urges SA to fight for Reserve Bank’s independence

Lesetja Kganyago
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Reserve Bank Governor Lesetja Kganyago has called on South Africans to rally behind the central bank and fight for its independence.

This follows a proposal by the ruling African National Congress (ANC) to nationalise the bank.

Kganyago has been targeted by Nelson Mandela Bay councillor Andile Lungisa for his stance. In a series of Tweets Lungisa described Kganyago as “a lackey of racist people” and used the K-word.

The governor has since filed a defamation lawsuit against Lungisa.

Kganyago has vowed to defend the Reserve Bank’s independence.

“When you listen to people who motivate this thing they started talking about the mandate of the bank. As we have consistently said what is important is the mandate of the bank, is the independence of the bank and it should not just be those of us who are in the central bank. We should rise and defend the institution should it come under attack. Actually, I think correctly South Africans should actually rise and say, not in the name of our institution.”