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Assessing and promoting civil and minority rights in South Africa.

[Source: Daily Maverick by Stephen Grootes.]

The very public slapping down of Ace Magashule by, among others, Tito Mboweni and Enoch Godongwana is yet another expression of just how comprehensively the ANC is divided. You know things are bad when so many in the party line up to display contempt for the person of the secretary-general, a nigh-impossible feat during Gwede Mantashe’s time.

On Wednesday morning, 5 June 2019, the divisions in the ANC on economic policy, and particularly on the mandate of the Reserve Bank, were back on display. This time they were more public than before, and thus more damaging to the economy and the currency.

The argument was sparked by the ANC’s secretary-general, Ace Magashule, saying that the National Executive Committee lekgotla had resolved to change the mandate of the Reserve Bank with regard to inflation targeting.

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South Africa at a Glance
57 700 000 (mid 2018 estimate)
4.5% y/y in May 2019 (CPI) & +6.4 y/y in May 2019 (PPI)
-3.2% q/q (1st quarter of 2019)
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