Abstract
Significance Mkhwebane's proposal that the SARB should promote broad-based economic growth, rather than focus on inflation and the currency, dominated debates ahead of the ANC's policy conference between June 30-July 5. Subsequently, the ruling party determined that the SARB should be nationalised, while re-affirming its constitutionally guaranteed independence and also demanding the government set up a state bank within six months. Impacts Damaging financial revelations at state-owned enterprises such as Eskom could undermine the impetus for a state-owned bank. Opposition parties could mobilise with civil society groups to try force Mkhwebane’s resignation. Ongoing corruption allegations surrounding the Passenger Rail Agency of South Africa (PRASA) could implicate the deputy minister of finance.
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