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remarks by lesetja kganyago, governor of the south african reserve bank, at the press conference to announce the sale of sarb shares to the general public south african reserve bank, pretoria 2 march 2017 members of the media, ladies and gentlemen. we have called today ’ s media briefing to make south africans aware of the opportunity to buy shares of the south african reserve bank ( sarb ). how did these shares become available? some of you will recall that the sarb act1 was amended in september 2010 to, among other things, limit the shareholding in the sarb to 10 000 shares each for a sarb shareholder and their associates. this means that no shareholder and their immediate family, and / or associates, can collectively own more than 10 000 sarb shares. after some shareholders had failed to comply with the legislative measures pertaining to this limitation of shareholding, the sarb applied for, and was granted, an order by the high court of south africa authorising the sale of the shares held by these shareholders and their associates in excess of the statutory limit of 10 000. south african reserve bank act 90 of 1989 page 1 of 4 the high court order was issued on 4 november 2016 : a ) directing affected shareholders, with their associates, to dispose of those sarb shares which they held in excess of 10 000 ; b ) appointing investec securities proprietary limited to act as an independent broker to facilitate the disposal of those shares over a period of two years from the date of the order, at a sale price of not less than a pre - determined market price ; and c ) directed the general counsel of the sarb to do all things necessary to enable the sale of the shares, including signing all necessary documentation and providing whatever assistance is necessary to investec securities proprietary limited. as a result of this process, some 149 200 shares in the sarb have become available for sale. we would like to use this opportunity to diversify our shareholder base, and we would like to encourage all eligible south africans to take up this opportunity to own shares in the sarb. any person is eligible to buy shares in the sarb, except if they already hold, together with their associates, 10 000 of these shares. i must emphasise that the sarb does not have a profit - maximising objective ; our operations are conducted in the broader interests of the country, in pursuit of the sarb ’ s mandate and responsibilities. the mandate and independence of the sarb are entre