Share

Kganyago: Sarb will defend its independence

Cape Town - Although South African Reserve Bank (Sarb) Sarb governor Lesetja Kganyago initially only chuckled when asked whether he or any of the members of Sarb's monetary policy committee (MPC) had been offered jobs by non-government entities, he did return to the matter later.

After its latest meeting, the MPC announced on Thursday that the repo rate will increase by 25 basis points to 7%. During question time at a media briefing after the announcement, a journalist raised the matter of job offers with Kganyago, clearly alluding to the current debacle surrounding offers allegedly made by President Jacob Zuma's close friends the Gupta family.

Initially, Kganyago approached the matter in a much more general way, stating that head hunters also call Sarb from time to time. Then he decided not to skirt the issue any longer, and said that no member of the MPC had approached him about receiving any "interesting job offers".

"They are very committed to the MPC," emphasised Kganyago.

READ: Hike in interest rate

He added that when his term, that of his deputy or any of the other MPC members comes to an end, Zuma would apply his mind to the matter.

"The president will decide whether you should continue another term or if he should appoint someone else. That applies to my appointment too. That is the process we have in the bank," said Kganyago.

"The independence of Sarb is enshrined in SA's constitution. We have never felt that independence to be under threat. And if ever that is under threat, be assured the good men and women of Sarb will defend it."

When a reporter tested the waters with a question about the current so-called Sars wars between Treasury and the SA Revenue Service, Kganyago said that would best be answered by Sars and Treasury.

The Gupta family has never appointed any minister to the Cabinet, Zuma told Parliament on Thursday. On Wednesday, Deputy Finance Minister Mcebisi Jonas admitted he had been offered a job by the Guptas and had rejected it.

Zuma said the only job he had ever offered Jonas was that of deputy ministry and nothing else.

ALSO READ: MPC hikes repo rate amid 'tightening cycle'

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.88
+0.3%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders