Reserve Bank accuses Mkhwebane of conspiring with the presidency and state security

The South African Reserve Bank has once again hit out at Public Protector Busisiwe Mkhwebane. This time, it has filed a new affidavit accusing Mkhwebane of conspiring with the Presidency and the State Security Agency to undermine the bank’s authority.

According to EWN who got access to the affidavit, it reveals Mhwebane met with the two mentioned parties to discuss amending the Reserve Bank’s constitutional mandate.  All of this was done just weeks before she released her Bankorp report.

The Reserve Bank’s Johannes de Jager explained that in the run-up to its main Bankorp review application, the Public Protector has disclosed multiple records of proceedings and documents which were previously deemed confidential.

These documents show that Mkhwebane met with the Presidency’s legal advisor two weeks before the release of the final report. They also show that the remedial action to change the Reserve Bank’s constitutional mandate was discussed.

The Reserve Bank and no other parties were aware of that aspect of the report before it was released.

Notes also reveal that questions were asked around “how are they vulnerable”. De Jager says this clearly shows that the report had become an attack on the reserve bank instead of an investigation into the CIEX report.


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