PRETORIA – South African Reserve Bank Governor (Sarb) Lesetja Kganyago has announced the availability of nearly 150,000 shares for purchase to the public.
Kganyago made the announcement in Pretoria on Thursday morning.
The move follows a High Court ruling last year, which directed some Reserve Bank shareholders to sell their shares that were in excess of the statutory limit of 10,000.
Kganyago has encouraged South Africans to buy a share of the central bank.
“Some 149,200 shares in the Sarb have become available for sale. We’d like to use this opportunity to diversify our shareholder base.”
He says shareholders have no say on any policy decisions taken by executive management.
“However, the Sarb shareholders can elect a maximum of seven non-executive directors of the board of Sarb from a list of candidates approved by a panel chaired by the governor of the Sarb.”
Kganyago says interested buyers should contact Investec securities.
(Edited by Leeto M Khoza)