ANC Sarb spat takes to Twitter: 'Is there policy uncertainty?' tweets Jacob Zuma

Earlier this week ANC secretary-general Ace Magashule said the ANC has agreed to expand the mandate of the South African Reserve Bank (Sarb) to focus on development and job creation.

Magashule says the party is exploring quantitative easing – printing money out of nowhere.

Finance Minister Tito Mboweni, however, immediately took to social media to contradict Magashule, the ruling party’s economic transformation head Enoch Godongwana was also quick in slamming Magashule, saying the ANC has not decided to change the Sarb’s mandate, and Sarb Governor Lesetja Kganyago too was scathing in his response to Magashule’s statement.

Late on Thursday afternoon President Ramaphosa released a statement reaffirming the mandate of the reserve bank, describing the current spat as "not helpful".

Minutes later, Magashule contradicted this statement again posting on Twitter that the party's NEC lekgotla had resolved to expand the mandate beyond price stability to include employment and growth.

The tweet soon disappeared and Magashule insisted it was a fake tweet from a fake account, insisting his account was hacked.

But News24 reported that the Uniform Resource Locator or URL, known as the web address, shows the Tweet was created by Mahashule's account and then deleted, as "Twitter generates a unique set of numbers" for each tweet.

Then around 7.30pm, former president Jacob Zuma took to Twitter to release this tweet, appearing to back Magashule, and reaffirm the monetary policy outlined at the ANC's 53rd National Conference resolution.

Tweeps accused Zuma of "being the new ANN7" and criticised him for interfering, while others showed him support.

Listen to this and other trending stories with Barbara Friedman on Barbs Wire below:


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