Tue. Nov 12th, 2019

EFF hurl insults towards “insane” Tito Mboweni over SARB nationalisation

EFF Minister of Finance Tito MboweniThe EFF have been busy this week, making all sorts of pronouncements against the ANC. However, they’ve now turned their attention towards Tito Mboweni.

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Cancel the Christmas cards, because the EFF and Tito Mboweni don’t look like they will be exchanging pleasantries any time soon. The political opposition and the finance minister are at odds over the nationalisation of the SA Reserve Bank (SARB), leading the red berets to label the ANC man “insane”.

In a traditional bit of EFF name-calling, they aren’t happy with Mboweni after he seemingly deviated from party policy on Wednesday. After a three-day lekgotla in Pretoria, the ANC released a list of resolutions: One of the most eye-catching was the promise to give SARB a wider mandate.

EFF vs Tito Mboweni

For many, this is seen as the first step towards nationalisation. Ace Magashule was tasked with sharing the details with the media and in turn, faced the wrath of Tito, who chastised him for making “reckless statements”.

Tito Mboweni is staunchly against nationalisation. But the EFF – as a hard-left organisation – are absolutely hellbent on this becoming a reality for SARB. The finance minister’s vehement denial drew criticism from the red berets, who have labelled the 60-year-old as “insane”. That’s as good a way as any to spark a war of words…

SARB: War of words turns ugly

“Arrogant”, “irritating” and “selfish” were also terms thrown towards Mboweni in a statement published on Wednesday evening. The EFF believe Tito is conflicted because he owns shares in the Reserve Bank, which allegedly influences the way he decides on policy:

“Mboweni has an irritating and arrogant tendency of thinking he is above the collective political will of the people. It is a proven fact this his economic ideas have dismally failed to create jobs, alleviate poverty and reduce inequality.”

“Tito Mboweni and his gang of neoliberals should take Albert Einstein seriously, when he said the definition of insanity ‘is doing the same things over and over again, expecting different results’. It is pure insanity to demand the country implements what has already failed.”

EFF statement

In the same week they promised to oust Pravin Gordhan from government and announced the death of capitalism in South Africa, the party have also resolved to table a bill in Parliament to discuss nationalising SARB.

  • You can read the EFF’s full statement here:

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