The topic of who owns the Reserve Bank of South Africa still rattles many feathers in the country. Most people are still convinced that a German national who goes by the name, Michael Duerr, owns 57.5% of Reserve Bank but that's far from the truth.
There's just no way Mr Duerr can own that much percentage in stake in a South African institution because its not allowed according to the country's constitution.
Contrary to those who don't know, the Reserve Bank has always been a public company with private shareholders way since it was launched in 1921.
According to their website, the number of shares a certain shareholder can own usually varied during the course of time, but as of now, it's currently capped at 10 000.
Believe it or not, the reserve bank is owned by more than 750 private shareholders, in South Africa and abroad, together own approximately 2 million shares.
Most of the shareholders are regular individuals but sometimes can be companies or unions.
During the Reserve bank’s annual general meetings, ordinary individuals who own shares are allowed to vote, provided that they have held those shares for at least 6 months
Over the years the EFF has usually pushed this agenda that the Reserve Bank needs to nationalized and owned by the state but unfortunately, the ANC and DA and ANC don't agree with Malema's party.
WHAT DO YOU THINK? LET'S TALK IN THE COMMENTS SECTION
Content created and supplied by: ZIPPSTAR (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More