SARB lacks confidence in African leadership: EFF

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The Economic Freedom Fighters (EFF) say the South African Reserve Bank’s decision to put VBS Bank under curatorship shows its lack of confidence in African leadership and Black people.

EFF MP Hlengiwe Mkhaliphi made these comments when she was speaking in the National Assembly during the debate on the Division of Revenue Bill.

Mkhaliphi says, “The EFF prefers a developmental budget that promotes local economic development, such developmental budget must prioritise buying local products and investing in local talents.

“It is in this view that the decision by the Reserve Bank to place VBS under curatorship as not only a sign of lack of confidence in African leadership to manage their economic affairs, but equally a failure to provide much needed support to increase participation of Black people in the financial sector, she adds.