Small price to pay for having your say

Mpho Sibanyoni

EVER wanted to have an influence on how interest rates are determined?

Well, if you have a few bucks to spare, then this is your chance as the SA Reserve Bank (SARB) will later this year make its shares available.

The shares are available on a first- come, first-serve basis.

“As a result of the regularisation of certain shareholding in the SARB, its shares are expected to become more readily available for sale in the market with effect from the latter part of this year,” the notification says.

Terms and conditions will apply.

The notice said any person could acquire shares provided that they, together with their associates, did not in the aggregate hold more than 10000 shares.

The SARB has more than 660 shareholders who are not allowed to hold in aggregate with his, her or its associates, more than 10000 shares of the total number of 2000000 issued shares.

Associates include close relatives of a shareholder or related company.

The SARB says the rationale behind such private shareholding is to afford members of the public the opportunity to contribute to the governance of the Reserve Bank, a public interest institution whose objectives are enshrined in the constitution.

 

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