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

The South African Reserve Bank has accused Public Protector Busisiwe Mkhwebane of conspiring with the Presidency and others.


The South African Reserve Bank (Sarb) has come out guns blazing against Public Protector Busisiwe Mkhwebane. A new affidavit filed on Monday accused Mkhwebane of conspiring with the Presidency and the State Security Agency to undermine the bank’s authority.

EWN got hold of the affidavit which 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 High Court has already set aside the remedial action to amend the Constitution.

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.

Ok, based on what you’ve read here, do you think Mkhwebane was “conspiring” to carry out an attack on the Reserve Bank? Whatever your opinion, be sure to let us know in the Facebook comments.