National Treasury rejects attempts to reform and nationalise SARB
National Treasury made the submission during public hearings into Economic Freedom Fighters (EFF) leader Julius Malema's private member's bill which calls for the nationalisation of the country's central bank.
But Malema's proposal has received support from at least one quarter, with labour federation, COSATU, agreeing that privately held shares in the bank must be expropriated by the state.
ALSO READ: Malema's private member's bill to nationalise SARB gets mixed reaction during public hearings
The Malema-sponsored South African Reserve Bank Amendment Bill not only wants the minister to have more powers over the bank, but it also wants the two million privately held shares transferred to the state.
Christopher Axelson, National Treasury's deputy director-general for tax and financial sector policy, said that nationalising the bank could create legal problems at an international level.
"And in those bilateral investment treaties, if they were to be expropriated, it would go against those bilateral investment treaties and those foreign investors could potentially take international legal recourse and would take South Africa to court."
Axelson said that while the bill does not change the mandate and independence of the reserve bank, there won't be any comfort to current and future investors that this would not happen in the future.
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Advertisement Next Stay Close ✕ Ad Loading In various videos circulated on social media over the past week, scores of immigrants seeking medical attention have been turned away, resulting in the South African Human Rights Commission issuing a statement stating that the South African Constitution allows foreigners, including asylum seekers and refugees, the same rights to healthcare as South African citizens. "The South African Human Rights Commission (SAHRC) reminds the public and all relevant stakeholders that the right to access to healthcare services in South Africa is a universal right afforded to anyone within the Republic of South Africa," the commission said. Citing Section 27 (1) of the SA Constitution 1996, the commission indicated that South Africa has a provision to give healthcare access to South African citizens, refugees and asylum seekers, documented and undocumented foreign nationals, including stateless persons. "The Constitution does not qualify or limit this right based on immigration status or citizenship. Furthermore, under Section 27(3), no one may be refused emergency medical treatment. This provision ensures that emergency healthcare must be provided unconditionally by both the public and the private healthcare facilities," it said. Responding to this statement, Dabula said: "We will not be bullied by the likes of the SAHRC, because firstly, they are advocating for people who are in this country illegally. When you come to this country, you must be properly documented, and if you are documented, then you need to have certain permits. For those who are here to work, they must have a work permit, and those permits must come together with medical insurance, but they do not do that. Even Section 17 of the Constitution says that." As a result, Dabula said South Africa cannot be expected to shoulder immigrants who do not have respect for the country's laws, which is why the ongoing campaign will be intensified. "We have always said life comes first, and we will not turn away someone we can see that they require emergency medical care and might lose their lives in the process. However, what needs to happen is that they need to be arrested for being here in this country, illegally, then they can access treatment," she added. ActionSA has also weighed in on the ongoing campaign, saying the SAHRC statement is promoting the abuse of South Africa's resources through the misapplication of Section 27 of the Constitution, which is why the party has recently called for the amendment of the Constitution. Reacting to the stand-off between Operation Dudula and the SAHRC, Dr Shadi Ganoe from the Wits School of Law, indicated that while students and other migrants are required to provide their medical care insurance, the Constitution insists that no one should be refused healthcare based on their citizenship. "For example, in terms of the Immigration Amendment Act 19 of 2004, any prospective international student must have medical cover with a medical scheme registered under the Medical Schemes Act 131 of 1998. This ensures that foreign students do not rely on public health services and can access private care. "This requirement is part of the visa process and is strictly enforced. This makes foreign students and other documented long-term visa holders easy to track and regulate health care costs. They are expected to carry the burden of their own medical needs, unlike undocumented persons or asylum seekers, who may have no formal coverage at all. Still, South Africa's Constitution remains firm: Section 27(3) says, 'No one may be refused emergency medical treatment.' This applies to everyone, citizen or not, documented or not," she said.
