The African National Congress (ANC) has used its national policy conference to affirm its commitment to the independence of the Reserve Bank despite suggestions that its ownership structure should be changed.
The policy conference ended on Thursday with a recommendation that the party set up a study group to investigate the consequences of land expropriation without compensation.
ANC Economic Transformation Commission Chair Enoch Godongwana says that the independence of the Reserve Bank is sacrosanct.
“The resolution affirms our commitment to the Constitution and the independence of the Reserve Bank.”
He was also asked for his view of the phrase of the conference.
“White monopoly capital, not in my commission, it does not belong there.”
Godongwana says that any decision on land expropriation can only be taken at the end of the year and that the party needs more information on the issue first.