We welcome the fact that Malusi Gigaba has finally stopped dithering on the SARB

5 July 2017

We welcome the fact that the Minister of Finance, Malusi Gigaba, has finally announced that he will institute review proceedings to set aside the findings, remedial action and report issued by the Public Protector, Adv Busisiwe Mkhwebane, following her investigation into the decades-old ABSA/Bankkorp Limited “lifeboat” loan by the South African Reserve Bank.

The fact is that for more than two weeks the Minister has dithered and zigzagged his way around the fallout from the remedial action and failed to take any concrete action to protect the constitutional mandate and independence of the South African Reserve Bank. This was a monumental dereliction of duty and left the Governor of the South African Reserve Bank, Lesetja Kganyago, dangling in the fight to save the independence of the South African Reserve Bank.

Issued by David Maynier, DA Shadow Minister of Finance, 5 July 2017