OPINION: The merits of a state-owned bank for South Africa

1. To the extent that there is a need for a state bank, it is not lost even to a casual observer that the state already owns a number of banks, prominent among them being the Post Office Bank, the Land Bank, the Development Bank of Southern Africa and Ithala.

2. Third, in the matured phase beyond that, the state bank must acquire more shares for South Africa, both in the Bank of Settlements and the Brics Bank.

3. The idea of a state bank contrived and accordingly structured to make the state wealthy is deliberately contrasted to the kind of state bank solely designed to benefit some individuals and a select slew of politically connected corporations.

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