South African governor warns against nationalisation
Call comes as Sarb’s senior lawyer accuses government ombudsman of lying under oath
South Africa’s central bank governor has advised the country’s government to drop its plans to nationalise the institution.
Nationalisation “could turn out to be a protracted legal process and a very expensive exercise for what would, at best, be a cosmetic gain”, Lesetja Kganyago warned on July 27. His caution came as the central bank’s top lawyer filed legal papers formally accusing South Africa’s top state-appointed ombudsman of having lied under oath.
“Some proponents of nationalisation
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