THE World Bank will give technical assistance to help South Africa meet its objectives for economic growth and social equity, its President, James Wolfensohn, said on Tuesday. Wolfensohn, in South Africa to promote the lending agency’s tough anti-corruption message, was speaking after a meeting with President Thabo Mbeki. The World Bank and Johannesburg’s metropolitan council on Monday signed an agreement to promote urban development and promote partnerships with international development agencies. The deal includes R22-million to help the city’s reform-minded Egoli 2002 project.
RESERVE BANK HAS ITS EYE ON E-COMMERCE
THE Reserve Bank plans to monitor the use of electronic payments and smart card money, but is not yet concerned about the increasing use of e-commerce, Bank Governor Tito Mboweni said on Monday. Mboweni, in a speech delivered late on Monday, said e-commerce has implications for monetary policy but “the Reserve Bank is not too concerned about these developments at this stage”. “However, the bank will be watching these new developments carefully, in order to ensure that the integrity of South Africa’s financial system is always maintained,” Mboweni told the Sun Microsystems conference in Midrand, north of Johannesburg.
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