Katlego Sekhu

In the fourth and last installment of our coverage of the rand manipulation scandal, 959 Breakfast invited political analyst Dr. Ralph Mathekga to tackle the political implications of this saga.
Dr. Mathekga emphasized how politicians often resort to scapegoating tactics instead of taking responsibility for their own involvement.
“I don’t think any bank wants the government to collapse because there would be no currency to rig further. The point is that banks got out of line, and I think governments need to strengthen their regulatory regimes.
“The reason we are able to know this is because we have that level of regulation. Obviously, the politicians will say that the banks wanted to undermine the government.”
Mathekga believes that politicians want to sweep everything that has to do with the public’s vote of confidence under the “rand manipulation” rug.
He noted that everyone has to take responsibility for their part in this. “There should not be greed. There should be regulation of the financial system to provide better services for the nation’s communities,” said Mathekga.
Listen to the full discussion on the podcast.
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