LISTEN: Public Protector defends call for Constitutional changes

Public Protector, Advocate Busisiwe Mkhwebane says she is not surprised by the expert reactions and currency markets following her final report that Absa bank and its predecessor Bankorp unduly benefited from an apartheid-era Reserve Bank bailout.

Mkhwebane in her report, has recommended the Special Investigating Unit (SIU) should recover public funds to the tune of R1.125 billion from the apartheid era.

Read: Public protector orders change of Constitution (to end inflation targeting)

It is good that people will be deliberating on the matter and our remedial actions seeks to give value for money for whatever the government has spent.

Busisiwe Mkhwebane, Public Protector

The recovery of the money from Absa it is not misplaced, it has been established by various investigations.

Busisiwe Mkhwebane, Public Protector

In the reports released on Monday, Mkhwebane also wants the Constitution to be amended to change the mandate of the Reserve Bank.

She has been criticised for making this recommendation with many experts saying it is the National Assembly's purview and not that of the public protector to make such recommendations.

Read also: Advocate Paul Hoffman explains the history of CIEX report and its relevance

I think the Reserve Bank should be acting in the interest of empowering South Africans.

Busisiwe Mkhwebane, Public Protector

On our side, it is to say how can we make sure the same situation does not repeat itself where we have the Reserve Bank benefiting a few commercial interest and not all South Africans.

Busisiwe Mkhwebane, Public Protector

To hear more from public protector Busisiwe Mkhwebane, listen below:

CapeTalk's Kieno Kammies spoke to Dr Iraj Abedian and constitutional law expert Professor Pierre De Vos to explain the effects of this announcement.

Take a listen below:

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Read More
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