In today’s opinion pages, Business Day tries to make sense of the latest push by the ANC to nationalise the SA Reserve Bank and Carol Paton writes that while Ramaphosa’s slate of supporters won out at the ANC policy conference it will be tougher in December at the national conference.
EDITORIAL: New calls for Bank’s nationalisation remain absurd – Business Day (for subscribers)
Business Day brushes off the latest calls from ANC party members to buy out the private shareholders of the SA Reserve Bank and nationalise the central bank. The publication writes the calls to nationalise the bank were first adopted at the ANC elective conference in 2017 but they date back further than that.
The newspaper points out that there isn’t much rationale to nationalising the bank as the private shareholders have no say over policy and can merely earn a few rands in dividends each year.
To buy out the 800 odd shareholders would only cost around R20 million but it begs the question – Why would the ANC want the government to put up that kind of money for an inconsequential activity as opposed to funding healthcare, education and welfare? Read more here.
Carol Paton | ANC policy conference was a cinch for Ramaphosa – but December will be different – News24 (for subscribers)
Carol Paton writes that while many ideas were bandied about at the ANC policy conference held over the past weekend, it is not to say they will be made into official policy or law.
Some of the policy proposals that will surely make it into the documents that are sent out to branches ahead of the national elective conference in December include broadening the mandate of the SA Reserve Bank, restructuring state owned enterprises, and Eskom 2.0, which is not so much a new company but the diversification into energy holdings.
Paton writes that the Ramaphosa-aligned factions won out at the conference but it will be a tougher battle at the national conference. Read more here.
Here’s what else we’re reading today:
Stronger together: Opposition coalitions to unseat the ANC may mix surprising flavours – Daily Maverick
TOM EATON: For the ANC money is something donors supply for holding up a sign – Business Day (for subscribers)
DUMA GQUBULE: ANC conferences are a waste of time for those who follow macroeconomic policy – Business Day (for subscribers)
Howard Feldman | Policy conference: The three questions the ANC should be asking – but didn’t – News24 (for subscribers)
Cyril Ramaphosa always late to the party – The Citizen (for subscribers)
RET pushback likely after loss – The Citizen (for subscribers)
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