The ANC has agreed to change the central bank’s mandate to include job creation, so said the African National Congress’s chairman Gwede Mantashe.
Reserve Bank Governor Lesetja Kganyago, responded by saying, “Unemployment in this country is structural… When problems come, people look at the central bank and just say ‘do something,’ even when the central bank wouldn’t have the tools.”
The ANC has failed to meet its targeted unemployment rate of 14% by 2020 and with the official unemployment rate at 32.9% and unofficial figures even higher, the ANC led government is hard pressed to find solutions.
To read the full article visit BusinessTech, ‘Reserve Bank responds to ANC plan to change its mandate‘.
