There's a raging debate in South Africa about the role of its central bank. This is inevitable given that so much is changing in the world of central banking and in economic life.
The prevailing mandate of the South African Reserve Bank is informed by sound economics and the need to protect the institution from the whims of politicians.
The public protector's proposal to change the mandate of South Africa's Reserve Bank goes well beyond changing individual rules to overturning their very foundation, anchored in the Constitution.
A financial system that is sure to collapse if the central bank cares about people’s well-being goes against democratic principle.
South Africa's Public Protector, Busisiwe Mkhwebane has touched on two highly contentious issues: the unresolved bailout for a local bank three decades ago. And the role of the country's Reserve Bank.
Far from the limelight, South Africa's public protector has been instrumental in assisting individuals who grapple with unfair treatment from government departments and other public institutions.