Greater KwaDukuza ANCYL picket outside bank

2017-02-08 06:02
ANCYL provincial secretary Thanduxolo Sabelo, Greater KwaDukuza ANCYL regional secretary Musa Zondi, and regional chairperson Mfanafuthi Ngcobo addressing the league's members and supporters during a picket an Absa branch in Ballito last Thursday Photo: Makhosandile Zulu

ANCYL provincial secretary Thanduxolo Sabelo, Greater KwaDukuza ANCYL regional secretary Musa Zondi, and regional chairperson Mfanafuthi Ngcobo addressing the league's members and supporters during a picket an Absa branch in Ballito last Thursday Photo: Makhosandile Zulu

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GREATER KwaDukuza ANC Youth League (ANCYL) members and supporters picketed outside the Absa Ballito­ Junction branch as part of the league's campaign calling on Absa to repay part of the billions the bank allegedly received as a bailout from the apartheid government.

The league's national campaign to occupy the bank until it concedes to this demand comes after the leak of the Public Protector's (PP) provisional report based on an investigation that a bank, which was bought by Absa, had received a bailout from the apartheid government.

The picket was joined by the league's provincial secretary Thanduxolo Sabelo­, Greater KwaDukuza ANCYL leadership, the chairperson Mfana-futhi Ngcobo and secretary Musa Zondi.

"We, as the ANC Youth League, are not asking for too much, we are just asking that you pay back this money so that the government can use it for youth development," Sabelo said during­ the picket outside the branch in Ballito. He said the R2.25 billion the leaked PP's provisional report stated that Absa­ should pay to the national treasury­ as the remedial action would assist the government in providing free education to impoverished youth in South Africa.


Sabelo called on the KZN provincial government to move its bank accounts from Absa to Ithala Bank.

"We are equally saying to members of the Youth League and supporters of the Youth League, Ithala Bank is the way to go," he said.

He further urged contractors doing business with ANC-led government structures to move their banking to Ithala Bank.

Sabelo called upon Absa employees to take part in the league's campaign by instituting a go-slow protest.

He said the campaign to occupy the bank would target branches with the most business.

He called on President Jacob Zuma to appoint a commission of enquiry that will investigate the banking sector in South Africa.

"We have been told that they [banks] refuse to give loans to black-owned small companies, but they fund 90% of white-owned small companies," Sabelo said.

He urged youth league members and supporters to desist from patronising businesses which are not black-owned or do not have black shareholders.

"The Youth League will never be quiet again, this Youth League is going to fight white monopoly capital head-on, we don't care who says what, comrades, let us unite and intensify the struggle," Sabelo said. Absa representative Rajiv Singh said the league's concerns would be communicated to the bank's relevant management.

In a statement, Absa said it has thus fully cooperated with the PP's investigation since its inception and that the bank would continue to do so.

"We have written to the Public Protector informing her that we accept her invitation to make further submissions in terms of the Public Protector Act. These submissions will correct several factual and legal inaccuracies that are contained in the Provisional Report. This will be done on or before the deadline of 28 February 2017.

It is regrettable that the Public Protector's Report has been leaked before further submissions and finalisation because in its current form it perpetuates an incorrect view that Absa Bank Ltd was the beneficiary of undue SA Reserve Bank assistance," the statement reads.

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