JZ’s ruse to prop up Nkosazana
ANC president Jacob Zuma is setting a bad precedent by trying to latch onto power as well as playing the ethnic card by trying to keep KwaZulu-Natal in the leadership of the ANC.
By suggesting that there should be no winner-takes-all approach he is paving the way for Nkosazana Dlamini Zuma in case she comes second to whoever wins the ANC presidency. He wants protection from Dlamini Zuma since he faces charges of corruption.
This man’s time is up so he must not direct and dictate who should become ANC president.
He must just vacate the presidency the same way his predecessors did.
Zuma’s shenanigans should teach the ANC that a person who faces criminal charges should not be allowed to stand for the lowest public office, let alone the presidency.
I don’t think this important ethical and moral question was part of their policy conference held in Nasrec.
In the run-up to the conference, some ANC leaders could be heard saying Public Protector Busisiwe Mkhwebane had overstepped her mandate by recommending that the constitution be amended to change the mandate of the SA Reserve Bank which is privately owned but enjoys constitutional protection.
This issue was debated at that policy conference which shows that the ownership of the bank is relevant as the public protector’s recommendations indicated.
The public protector did not overstep her mandate.
The ANC must nationalise or alter the mandate of South Africa’s central bank just like France did in 1936 and Britain did in 1946.
The central banks of these two European countries were nationalised yet they remain independent.
There are some in South Africa who think if the central bank is nationalised or its mandate is changed, it will lose its independence and autonomy.
Nothing could be farther from the truth.
The bank does not carry out its mandate of protecting the currency, lowering inflation and encouraging growth.
When the ANC discussed the ownership of the Reserve Bank, the rand dropped.
So the ANC should not discuss still the private ownership of the Reserve Bank?
One of the mandates of the Bank of England is to create employment and to keep inflation at or below 2%.
Why can’t the mandate of the Reserve Bank be changed to be like that of England, considering that South Africa’s black majority population was impoverished by the previous government and that there is high unemployment in the country?
The bank is the only central bank in the world which is privately owned and whose mandate is constitutionally entrenched.
Why shouldn’t the central bank be accountable to the people and constitution of South Africa when the Constitutional Court of South Africa recently made a landmark ruling that the South African Parliament, the executive and judiciary are accountable to the people and constitution of South Africa? The central bank is accountable to its shareholders.
This is unacceptable. Kagiso
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TIME’S UP: The writer says President Zuma is setting a bad precedent by proposing a succession policy that accommodates Dlamini Zuma.