The African National Congress (ANC) says its leadership must be responsible for the implementation of the party’s resolutions.
This after President Cyril Ramaphosa released a statement saying that while the ANC recognizes views that the Reserve Bank should be publicly owned, it will come at a cost that’s not currently practical.
It follows a week of public spats among ANC members after Secretary-General, Ace Magashule, said the ruling party wants the mandate of the bank to be expanded to focus on development and job creation.
Magashule’s comments were subsequently contradicted by NEC members, Enoch Godongwana, and Finance Minister, Tito Mboweni.
Ramaphosa says the ANC’s policy on the Reserve Bank as set out in the Constitution has not changed.
“The responsibility of any leadership is to implement a resolution of the conference, but you must be responsible for the implementation of those resolutions. It doesn’t mean because the economy has adopted the resolutions, you must implement it. You must implement a resolution that enhances, among others, the economy, restores the confidence of both domestic and foreign investors so you can talk about job creation. If the implementation of those resolutions undermines the very same objectives set out in the conference then there is something wrong in the implementation of that resolution in the immediate,’ says Zizi Kodwa, Head of Presidency.