South African Reserve Bank (Sarb) Governor Lesetja Kganyago told Parliament on Wednesday that any other alleged violations by Phala Phala or President Cyril Ramaphosa were not part of the bank's mandate and investigating powers.
CAPE TOWN - South African Reserve Bank Governor Lesetja Kganyago said the central bank only focused on exchange control regulations in its Phala Phala probe.
Kganyago was briefing the Standing Committee on Finance about the bank's recent findings which cleared Ramaphosa of any wrongdoing after over US$500,000 were stolen from his Phala Phala farm.• ANC welcomes Sarb findings on Ramaphosa, Phala PhalaGovernor Lesetja Kganyago reiterated the bank's recent statement on its Phala Phala investigation.
"On the facts available, it cannot conclude that there was a contravention of exchange control regulation 6.1 by either Ntaba Nyoni Estates or the president for that matter." "Other matters and whether they may relate to the breach of any other laws or otherwise are matters which are to be addressed by the relevant authorities and or exchange control violations."
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