Economics
S. Africa Determined to Nationalize Central Bank, Ramaphosa Says
- Due process will be followed, president tells lawmakers
- Move will affirm nation’s sovereignty, president says
The South African Reserve Bank, right, in Pretoria.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
South Africa’s ruling party has taken a decision to nationalize the central bank and it will be implemented, President Cyril Ramaphosa said.
“We have got to go through processes,” Ramaphosa told parliament in Cape Town on Thursday. “There is no hidden agenda.”