Nationalising the South African Reserve Bank would “raise the level of risk and uncertainty” for the nation, the central bank has said in response to a recent resolution issued by the country’s ruling party.
At its party conference in December 2017, the African National Congress proposed acquiring the Sarb’s shares. Unlike other central banks, South Africa’s has been 100% privately owned since 1921. Currently, 2 million shares are outstanding.
“The Sarb functions in the public interest; privat