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The Ministry of Finance would like to place on record that the opinion piece by advisor to the Minister of Finance Professor Chris Malikane was written in his personal capacity as an academic and activist. The views expressed in the opinion piece are not necessarily government policy. Professor Malikane is within his rights as an academic and an activist to contribute ideas to national discourse on any subject.

Minister Malusi Gigaba wishes to place on record that the work of the Ministry of Finance will continue to be guided by policies of the ANC, as articulated in conference resolutions and in the 2014 election manifesto. The nationalisation of banks is not government policy. The Ministry of Finance remains committed to leverage on all available policy tools - monetary, fiscal and structural - to achieving strong, sustainable, balanced and inclusive growth.

Minister Gigaba calls on all sectors of South African society to work together and support the work that the Ministry of Finance is doing to avoid further downgrades and in the medium term, to restore our investment-grade rating. Minister Gigaba will this week hold meetings with foreign investors in Washington at the IMF and World Bank Spring meetings in this regard.

Issued by Ministry of Finance