Views Article – Sharenet Wealth

Africa, Forex

South Africa’s Kganyago says debate over central bank’s ownership “damaging”

JOHANNESBURG (Reuters) – The debate over ownership of the South African central bank’s ownership as well its mandate is increasing investor uncertainty and stoking risk premium associated with the country’s debt, governor Lesetja Kganyago said on Wedensday.

“This shareholding debate is more damaging to our economy than it should be. It sends the signal to both investors here and abroad that our macroeconomic framework is at risk, making the cost of debt higher than it would otherwise be,” Kganyago said in a speech at a university in Pretoria.

(Reporting by Mfuneko Toyana; Editing by MacDonald Dzirutwe)

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