Katlego Sekhu

Professor Alex Van Den Heever, from the Wits School of Governance, joined Sizwe Dhlomo to unpack the complexity of the rand manipulation for 13 years, as reported last week, with Standard Chartered paying a fine of over R40 million for their involvement in this.
The professor shared insights on the value of money and the impact this has on the economy of the country, as well as suggesting that there should be more done to persecute the executives who let this rand manipulation go on for years.
Van Den Heever pointed out that increases in interest rates can actually cause the volume of money to reduce, which has an impact on the “balances and amount of money available to buy goods and services”.
Furthermore, Van Den Heever highlighted that all markets are susceptible to people “clubbing together” who instead should be acting independently.
“In their own interest, they organize prices to change for their own profit, despite the fact that the underlying economic conditions don’t require it.”
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