Posts tagged with 'SARB'

 

Hawks Confirm They are Investigating Two Cases of Alleged Theft from SARB Amounting to over R41 Quadrillion Linked to Tokyo Sexwale!

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A new twist in the Tokyo Sexwale “stolen quadrillion” saga has appeared – after the fund invited ANC government, to a Bank in Singapore. The chairman of the Worldwide Proxy and Trustee of the White Spiritual Boy (WSB) and Spiritual Wonder Boy (SWB) Heritage Funds, Mr Chark Leong Boey, has written a letter in his personal capacity, in an effort to clarify the confusion around the Heritage Fund. The Hawks on Monday confirmed that they were investigating two cases of alleged theft amounting to over R41 quadrillion.

Mr Boey, who is from Singapore, has stated in a letter that he extended an invitation to a South African delegation to travel to Singapore to verify the said fund.

Reports emerged last week of how Trillions of Rands from the fund had allegedly been looted from the South African Reserve Bank (SARB) and from The National Treasury. These damning allegations were dismissed by the two financial institutions as being a mere scam.

The letter which
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‘Open your brain first before opening your mouth,’ says Mboweni to Masina in a heated debate over nationalisation- The finance minister believes the mayor was commenting on topics he has no in-depth knowledge of

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Following a 702 headline stating that finance minister Tito Mboewni is set to introduce a bill paving the way for the creation of a state-owned bank in competition with private sector retail and commercial banks, Mboweni and the executive mayor of the city of Ekurhuleni, Mzwandile Masina, got into a heated debate over nationalisation.

The ANC Ekurhuleni regional chairperson followed up his retweet of the article with a comment on the idea of nationalising the Reserve Bank (SARB) and the bank’s governor, Lesetja Kganyago, who has been a vocal opponent of the calls for the SARB to be nationalised.

Mboweni responded to Masina’s sentiments by calling his views misguided while reiterating his respect for the young mayor.

Mboweni responded to Masina’s sentiments by calling his views misguided while reiterating his respect for the young mayor.

He went on to share an idiom with the mayor which he dubbed the Mboweni Idiom.

After havin
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Two ANC leaders singing different tunes and it is so confusing – Ace Magashule vows South African Reserve Bank will be nationalised whilst Ramaphosa was assuring business leaders in the private sector that the reserve bank would remain independent

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The ANC’s secretary-general, Ace Magashule has revealed the ANC’s plans regarding the South African Reserve Bank (SARB). A couple days after the party’s NEC had their Lekgotla meeting, Magashule has returned with shocking news of the party’s aim: to nationalise the central bank.

South African Reserve Bank targeted for nationalisation by the ANC
South Africa’s reserve bank is one of the fewest central banks, in the world, that have private shareholders.

The Citizen, the bank has over 261 000 shares split between more than 600 private shareholders, with Parliament only able to function in a supervisory role within the spectrum.

Many of these shares are owned by people who do not reside in South Africa, the majority shareholder being Michael Duerr, a German with a 57.5% ownership stake in the central bank.

The ANC, largely the Jacob Zuma and Julius Malema faction, has always pushed for amendments to the Reserve Bank Act. The
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