Mkhwebane's remedial action of Reserve Bank's mandate set aside by High Court

On Tuesday, the North Gauteng High Court set aside Public Protector Busisiwe Mkhwebane's remedial action to change the constitutional mandate of the South African Reserve Bank (SARB).

In June, Mkhwebane made the finding while dealing with the Bankcorp bailout from the 1990s.

EWN reporter Barry Bateman says Judge John Murphy endorsed the Reserve Bank Governor Lesetja Kganyago's criticism of Mkhwebane's findings and how she came up with her remedial actions.

The judge referred to her "superficial reasoning and erroneous findings"...

Barry Bateman, EWN reporter

In another aspect referring to how the Public Protector failed in her duties, in particular respect related to procedural fairness - and this has not only damaged the economy but also the reputation of her office.

Barry Bateman, EWN reporter

Bateman says the judge has found that the Public Protector's order entrenches unconstitutionality and irrationality of Parliament's exclusive authority.

This remedial action does overstep that separation of power and that was under the bases that he found it unlawful and needed to be set aside.

Barry Bateman, EWN reporter

Bateman says the judge had strong and critical words for Busisiwe Mkhwebane conduct in the matter.

It certainly could be taken to Parliament to say she is not fit to hold this office anymore.

Barry Bateman, EWN reporter

To hear the rest of the interview, listen below:


Recommended

by NEWSROOM AI
Read More
Christo Wiese revealed as one of the many National Party funders

Christo Wiese revealed as one of the many National Party funders

Open Secrets released a report this week of business people who gave money to the NP during apartheid.

Constitution mandates Sarb to protect the value of the rand in your pocket

Constitution mandates Sarb to protect the value of the rand in your pocket

The Money Show’s Bruce Whitfield interviews Reserve Bank Deputy Governor Kuben Naidoo.

Sarb governor says he was asked if he would quit after PP recommendation

Sarb governor says he was asked if he would quit after PP recommendation

Reserve Bank Governor Lesetja Kganyago appeared before Parliament’s standing committee on finance on Tuesday.

Sarb not backing down on court bid to overturn Mkhwebane's remedial action

Sarb not backing down on court bid to overturn Mkhwebane's remedial action

Reserve bank officially approached the court to set aside Mkhwebane's remedial actions to change the mandate of the Reserve Bank.

Why the SA Reserve Bank cut rates (against the expectation of 92% of economists)

Why the SA Reserve Bank cut rates (against the expectation of 92% of economists)

The Money Show’s Bruce Whitfield interviews Nedbank Economist Busisiwe Radebe about Governor Lesetja Kganyago’s surprise move.

Repo rate cut may see consumers paying less on outstanding debt - economist

Repo rate cut may see consumers paying less on outstanding debt - economist

South African Reserve Bank Governor Lesetja Kganyago announced that the repo rate would be cut by 25 basis points to 6.75%.

The Sarb may not want to trim rates prematurely - economist

The Sarb may not want to trim rates prematurely - economist

The South African Reserve Bank will announce on Thursday if it will trim or keep interest rates unchanged.

Popular articles
'Zuma fighting to stop Nkandla being repossessed, can't afford criminal trial'

'Zuma fighting to stop Nkandla being repossessed, can't afford criminal trial'

Zuma is facing fraud, corruption, racketeering and money laundering charges; the trial has been postponed until February.

It's VW, but not as you know it - Why did Volkswagen change its logo?

It's VW, but not as you know it - Why did Volkswagen change its logo?

John Maytham asks what's behind Volkswagen's new-look logo...

Eusebius slams humourous reactions to Bishops teacher's sexual affair scandal

Eusebius slams humourous reactions to Bishops teacher's sexual affair scandal

The teacher has resigned following allegations that she was involved in a sexual relationship with an 18-year old pupil.

5 retirement saving tips for those who left it late

5 retirement saving tips for those who left it late

It’s better to start late than never! The Money Show’s Bruce Whitfield interviews Jeanette Marais.

[WATCH] Woman faints after hairdresser cuts 12-inch hair without telling her

[WATCH] Woman faints after hairdresser cuts 12-inch hair without telling her

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Tourist steps out of his car to film lions at Kruger National Park

[WATCH] Tourist steps out of his car to film lions at Kruger National Park

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] 'I am smart, I am blessed, I can do anything' video goes viral

[WATCH] 'I am smart, I am blessed, I can do anything' video goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Dad dancing with daughter at school concert goes viral

[WATCH] Dad dancing with daughter at school concert goes viral

Khabazela shares tweets and Facebook posts that have gone viral.