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Tito Mboweni warns Public Protector not to interfere with SARB

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Cape Town – Former South African Reserve Bank (SARB) governor Tito Mboweni on Tuesday warned Public Protector Busisiwe Mkhwebane not to interfere in the independence of the bank.

One of Mkhwebane’s remedial actions in her CIEX Report on Monday was for Parliament to initiate a process to amend the Constitution, which would remove a paragraph that gives SARB its mandate to protect the value of the rand.

The SARB announced on Tuesday that it is obtaining an urgent legal review of what it believes is unlawful action by Mkhwebane.

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