Bank must repay money – ANCYL

2017-03-29 06:02
PHOTO: NOKUTHULA KHANYILEANCYL members in Moses Mabhida region picketed outside Absa bank in Church Street.

PHOTO: NOKUTHULA KHANYILEANCYL members in Moses Mabhida region picketed outside Absa bank in Church Street.

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THE ANCYL has threatened to disrupt operations at Absa bank branches until Absa meets their demands and repays the money the bank received as a bail-out from the apartheid government.

ANCYL members in Moses Mabhida region picketed outside Absa in Church Street last Wednesday. The demonstration comes after a leaked public protector draft report surfaced. The report recommended that Absa pay back the R2,5 billion it received as part of an alleged apartheid-era bail out.

The league’s provincial secretary, Thanduxolo Sabelo, said their campaign will target the busiest days. “Today [Wednesday] is the 15th, there are people who got paid and want to use the bank. We know they are using alternative banks today, but they are frustrated because of the inconvenience our demonstration has caused. We are going to mount the campaign — on the 25th we are going to close all regional branches of Absa.

“If we do not receive a response we are going to be forced to close every branch of Absa in this province. The ANCYL in the province has 86 000 members, we are going to be forced to divide ourselves up to close all the branches of Absa.

“This money can help us achieve free education. This money, if ploughed back into the economy, will create jobs for the unemployed young people of this country,” he said.

The ANCYL refused to give its memorandum to the Absa regional managers to accept.

“We don’t want to speak to management here, we want to negotiate with Maria Ramos and we want to speak to the chairman of the Barclays board. We want to tell them the plight of our people,” said Sabelo.

In a statement, Absa said it would make further comments on the issue once the public protector had completed her investigation and published a final report.

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