Malema: We are here because of the pain of poverty - as it happened

2015-10-27 19:00

EFF leader Julius Malema has led the EFF through the streets of Johannesburg from Newtown to Sandton in a march for “economic freedom”.

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Last Updated at 10:15
27 Oct 18:39

27 Oct 18:38
The EFF marchers are leaving the JSE.

27 Oct 18:33

27 Oct 18:29
Newton-King thanked the crowd for "taking the effort to come to Sandton". She called it a "magnifcent effort".

27 Oct 18:14
Malema is still busy addressing the crowd outside of the JSE.

27 Oct 18:14

27 Oct 18:13

To the Johannesburg Stock Exchange, we demand the following:

1. All companies in the JSE should move towards socialization of their ownership, meaning that they should give real and meaningful shares to their employees, who will in turn receive dividends at the end of each financial year. A minimum of 51% of all JSE companies should be owned and controlled by workers. This is different from the BEE schemes which empower fewer individuals.

2. All companies represented in the JSE must introduce a minimum wage of R4500 for all their workers, and taking into consideration the sectoral minimum wages contained in the EFF Elections Manifesto, which are: Mineworkers: R12 500 per month, Farm workers: R5000 per month, Manufacturing workers: R6500, Retail Workers (Cashiers and Retail Store Assistants): R5000, Builders: R7000, Petrol Attendants: R5000, Cleaners: R4500, Domestic Workers: R4500, Private Security Guards: R7500, Full time Waiters and Waitresses: R4500

3. All companies in the JSE should ban labour brokers, and permanently employ their workers with proper medical aid and retirement benefits.

4. All JSE companies and all companies in South Africa should implement the principle of equal work for equal pay for all workers irrespective of race, class and background.

5. All companies and corporations that have majority of its businesses in South Africa should have the primary listing in the JSE and their Head Offices in South Africa.

6. All companies in the JSE must procure the upstream and downstream goods and services from township and rural based economic role players owned by historically disadvantaged individuals.

7. All the retail stores in the JSE should source a minimum of 70% of their goods and services from South African producers, particularly food, confectionery, beverages, textile, leather, furniture, plastic, and many other basic products that are traded in South Africa.

8. Urgent action plans and programmes from all companies and corporations in the JSE on how to increase and sustain the labour-absorptive capacity of their companies. Thoroughly drafted human resources, skills transfer, and training and education provision with sustainable care programmes should accompany this.

9. Each and every company in the JSE should adopt a minimum of 5 schools in townships and rural areas and make that each adopted school has access to quality services, including computer labs, laboratories, libraries and access to high speed internet.

10. Each and every listed company with the total turnover of R1 billion and above should adopt one of the Technical, Vocational Education and Training (TVET) Colleges and assist with all the basic necessities of a TVET college.

11. Each and every company in the JSE should adopt a minimum of 100 students and assist with their higher education and training programmes and bursaries from registration, tuition, residence, food, books, and transport money for their adopted students.

12. All companies in the JSE should make massive investments in all parts of South Africa with the aim of decentralizing economic activities and industrial programmes to all parts of the country.

13. Urgent action plans on how to decentralize South Africa’s economic development from the existing centers of economic development to other parts of the country.

14. Urgent development and implementation of Corporate Social Investment Plans, which will bring real value and benefits to communities where business operations happen.

15. All JSE companies should have all their trading bank accounts with South African banks and should be willing to be subjected to scrutiny on illicit financial flows, transfer pricing and profit shifting.

16. End to expatriation of profits to developed countries, and mandate all companies and corporations to declare publicly transactions between subsidiaries in details for the tax authorities to access necessary information to collect maximum tax due to public purse.

17. All JSE companies should commit to usage of South African based professional services, such as those for auditing, accounting, legal, marketing and all other basic services.


27 Oct 18:02
The JSE has 30 days to respond to the EFF's memorandum.

27 Oct 18:00

27 Oct 17:59

27 Oct 17:57
The JSE has committed to communicating with EFF leadership soon.

27 Oct 17:53
Nicky Newton-King, the CEO of the JSE, has received and signed the memorandum brought by the EFF.

27 Oct 17:48

27 Oct 17:47
Floyd Shivambu is now reading the memorandum.

27 Oct 17:44
The CEO of the JSE came out, got onto the van the EFF leaders were standing on to receive the memorandum.

27 Oct 17:42
Malema: Never tolerate white supremacy, never tolerate racism. Down with racism, down.

27 Oct 17:40
Malema: We are here because of the pain of poverty.

27 Oct 17:40

27 Oct 17:39
Malema: We will never keep quiet.

27 Oct 17:35
Malema claims that JSE had locked it's gates to supporters even though they had permission, he demands they come and collect their memorandum of demands.

27 Oct 17:35
Malema: Now come take the memorandum here. You're wasting our time!

27 Oct 17:35
Malema: Police you allow these whites to treat us like that, what is the point of permission. Police stop being scared of white people, you must man up...

27 Oct 17:34
Malema: You lock us here we got a permission to come here, you treat like we are criminals because we are black, JSE of racist white... without remorse we will never subject our selves with a nonsense reconciliation which perpetuates white supremacy

27 Oct 17:33
Malema: We don't want racists here. You must pack your bags and go. If we want to occupy that building, no one can stop us!

27 Oct 17:33
Malema: JSE of racist whites, your days are numbered here.

27 Oct 17:33
Malema: When we arrived here we find these boers having put a fence there. They didn't want black people here. They must be ashamed

27 Oct 17:32
Malema calls JSE racist: You are so racist you do not even belong to South Africa

27 Oct 17:31
Malema addresses the crowd: Down with the racist JSE, down

27 Oct 17:30
The crowd is chanting Malema's name, cheering and whistling.

27 Oct 17:29

27 Oct 17:28
A water cannon has been deployed by the police.

27 Oct 17:27
Marshalls are trying to wangle a way to get the truck with the sound system through the crowd.

27 Oct 17:26
Commotion at the gates of the JSE, seems like people are being pushed out of the gates by police and police are being booed.

27 Oct 17:24
Seems like the JSE has been painted red as the crowd waits to be addressed.

27 Oct 17:23

27 Oct 17:22

27 Oct 17:22

27 Oct 17:21
Arrived outside the JSE. A fence has been erected outside to stop protesters getting in. - Thomas Hartleb

27 Oct 17:20
The EFF marchers removed the barricades preventing them from walking to the JSE.

27 Oct 17:18

27 Oct 17:17

27 Oct 17:17

27 Oct 17:17

27 Oct 17:15

27 Oct 17:15

27 Oct 17:14

27 Oct 17:13

27 Oct 17:09
(Picture: News24 User)

27 Oct 17:08

27 Oct 17:07

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