South African Reserve Bank (SARB) Governor Lesetja Kganyago has called for a bold shift in the country’s economic mindset, saying SA must become less afraid of risk if it wants to achieve meaningful growth.

Speaking at a public lecture hosted by the University of SA in Pretoria under the theme “From Fragility to Resilience: The Emerging Market Journey,” on Monday, Kganyago argued that excessive regulation, protection of established interests and resistance to reform are holding back the economy.

He’s urged SA to start embracing innovation, competition and calculated risk-taking to build a more resilient and dynamic economy.

—ChannelAfrica—