Today is an opportunity for us, together, to consider a very serious overview of where the Bank stands in terms of its internal organisation, its relationship with shareholders, and its role in the South African economy as we move into what will undoubtedly be a very challenging 2011 for the world and South Africa.
In the proceedings so far today we have endeavoured to address the questions you have asked as they relate to the work of the Bank and arising from the Annual Report and Financial Statements. While there are still a number of matters that will be addressed towards the end of the agenda, we trust that the open interaction marks a new beginning in the relationship with Bank shareholders who, in our view, have a vital role to play in ensuring independence, good governance and accountability.
I wish to assure everyone here today of two things:
* firstly, that this meeting is compliant and in line with the regulations governing Ordinary General Meetings of the Bank, as elaborated upon earlier, and
* the Board, Executive and staff of the Bank will continue to act in the best interests of South Africa without fear or favour, and do so professionally, upholding the highest standards of governance and ethics.
We are very grateful and express our appreciation to a number of people and institutions for the professional and highly committed manner in which the amendments to the SARB Act, which led to the postponement of this year’s OGM, were drafted, taken through an elaborate process of open and thorough consultation, and enacted into law. Allow me specifically to mention in this connection the Minister of Finance, Pravin Gordhan, the National Treasury led by Lesetja Kganyago, and Parliament, the chairperson of the standing committee on finance, Thaba Mufamadi and the chairperson of the select committee of finance in the NCOP, Charel de Beer, and their members.” ...
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