Who owns the Reserve Bank? | Business | M&G

Following President Cyril Ramaphosa clarification of his intentions to nationalise the South African Reserve Bank , theThe SARB has more than 700 shareholders spread across the world with the second highest number of shares in German hands. From illuminati theories, millionaire dreams and some who don’t even know they have shares, the central bank’s private owners are a mixed bag of shareholders.

“They believe that they are entitled to a share of the assets of the SARB and see this as an opportunity to make enormous profits at the expense of taxpayers. This could turn out to be a protracted legal process and a very expensive exercise for what would, at best, be a cosmetic gain. To reiterate, whatever the shareholding structure, the primary mandate of the SARB will remain unchanged,” said Kganyago..

The Reserve Bank’s spokesperson, Ziyanda Mtshali, said she could not speculate on the reason why someone from Norway would want to acquire shares in the bank. “Pre 1994, having shares played a key role in monetary policy and the determination of prices as they weren’t dictated by the market. Those days it would’ve been important to be part of the Reserve Bank,” van Zyl said.

Shareholders like Abdoolrawoof Ahmed from Lenasia agrees with Kganyago, that it would be wrong for people to demand a share in the country’s reserves, but he does hope one day that his 10 000 shares will score him a million rand if nationalising the bank happens. The largest shareholder overall is the South African Mutual Life Assurance Society with a maximum of 20 000 shares. This is followed by the SA Police Widows’ & Orphans’ Fund which owns 10 520 shares and declined to comment. Another fund that owns 10 000 shares is the Crocodile Valley Provident Fund which was allegedly sold four years ago.

Maybe they are going to steal it like they are going to steal the land.

The anc will do it because they want to lie and manipulate more and more. The liberal mamparas and dumb ass anc supporters will believe them until it is too late

.MmusiMaimane and HermanMashaba , let's fix this one please.

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Source: BDliveSA - 🏆 12. / 63 Read more »