Editorials
1 minute read
8 Oct 2021
6:30 pm

We need leaders like Kganyago

Editorials

Long may we have strong leaders like Kganyago in key positions to not only protect state institutions, but also our constitution.

Reserve Bank Governor Lesetja Kganyago. Picture: Gallo Images

While it is comforting to hear the South African Reserve Bank (Sarb) blocked an attempt on their institution to be captured, at the same time it is also concerning how far some people were willing to go to strip the country of their assets.

According to Moneyweb, Sarb governor Lesetja Kganyago says the Bank “came under attack from state capture, but that it fiercely defended its independence”.

Kganyago said “people who lead such institutions of the constitution” – such as the governor of the central bank – “are put in positions of trust”, meaning it was “not just a case of protecting the institution but stepping up and defending” its mandate.

The Sarb governor said: “The easiest way to weaken an institution is to install pliable individuals to lead it.

We need independent institutions with a clear mandate, but that are also accountable to the public.”

He added: “When we saw state capture, we just shut our gates [to it]. The attacks on the bank came in a sophisticated manner…

“When we saw the systematic attacks on the institution, we knew we had to defend its independence, even
in court.”

Long may we have strong leaders like Kganyago in key positions to not only protect state institutions, but also our constitution.