Godongwana: Mkhwebane's Sarb findings wouldn't have stood legal scrutiny

In her findings on the apartheid-era Bankcorp bailout, she said Parliament must change the mandate of the Reserve Bank.

Deputy Minister of Public Enterprises Enoch Godongwana addresses the media on issues of land redistribution and ownership of the Reserve Bank at the ANC NPC. Picture: Thomas Holder/EWN

JOHANNESBURG – The chair of the African National Congress (ANC)’s economic transformation commission Enoch Godongwana has told Eyewitness News he believes that the Public Protector’s decision to abandon her own findings on the Reserve Bank’s mandate is wise.

“I don’t think this would stand legal scrutiny. I said at the time the report was published that it doesn’t make economic sense to create an environment where both fiscal and monetary policies are not coordinated in one place.”

Advocate Busisiwe Mkhwebane announced on Monday that she wouldn’t be defending her findings in an application brought against her by the Reserve Bank because she’s taken legal advice and accepted that advice.

In her findings on the apartheid-era Bankcorp bailout, she said Parliament must change the mandate of the Reserve Bank.

The Economic Freedom Fighters says Mkhwebane’s decision shows that her remedial action was illegitimate, dangerous and a waste of public funds.