Jacob Zuma

Dispute over apartheid-era bailout escalates in South Africa

South Africa's economy, which is in a recession, on Tuesday faced fresh uncertainty over a demand by the state watchdog agency for changes in the way the central bank is run, in escalating fallout from a bank bailout during the apartheid era.

The South African rand weakened Monday after Public Protector Busisiwe Mkhwebane called for a constitutional amendment stating the South African Reserve Bank's primary role is to promote the socio-economic welfare of South Africans rather than protecting the value of the currency.

The dispute centers on growing frustration among many South Africans that the black majority has not reaped enough economic benefits since the end of white...