Mkhwebane: Anatomy of a serious stuff up – Rand Daily Mail (registration)

Mkhwebane has made a number of questionable moves and statements since she took over from her revered predecessor Thuli Madonsela.

Her worst decision in her short tenure has got to be her instruction to parliament to change the constitution in order to tinker with the mandate and the independence of the SA Reserve Bank.

Lets recap.

A few weeks ago Mkhwebane found against Absa/Bankorp in a case involving the banks liability for the repayment of the R1.1 billion lifeboat the Reserve Bank extended to it between the late 1980s and the early 1990s.

The facts around whether or not Absa should repay the lifeboat in full are still in dispute. However what was bizarre about Mkhwebanes report was her instruction that parliament should change the wording of Section 224 (1&2) of the constitution.

She even gaves MPs the exact words they should substitute for the ones used by the crafters of our supreme law something that would have taken away the independence of the central bank.

She has united the Reserve Bank the national Treasury and parliament against her findings.

The rest is here:
Mkhwebane: Anatomy of a serious stuff up - Rand Daily Mail (registration)

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