ANCYL intensifies campaign against Absa

2017-03-15 18:29

Durban - As part of its ongoing efforts to put pressure on Absa bank to repay a SA Reserve Bank loan, the ANC Youth League brought a branch in the Pietermaritzburg CBD to a standstill on Wednesday.

About 500 league members made their way from the City Hall parking lot to the bank's branch on Church Street, where they sang struggle songs and danced.

They carried placards, saying "Absa is a corrupt bank" and "Pay back the money with interest". The money could be used to fund free education, they said.

The ANCYL embarked on the protests in reaction to a leaked Public Protector report that Absa had benefited from an unlawful apartheid-era bailout when it bought Bankorp in 1992.

Public Protector Busisiwe Mkhwebane recommended in her preliminary report that Absa repay R2.25bn to the fiscus.

Njabulo Mtolo, ANCYL Moses Mabhida region spokesperson, told News24 that they wanted Absa to repay the money it took from the apartheid government.

The protest, and others staged at Absa branches, were part of the league's "ongoing confrontation" with white monopoly capital, he said.

Police were monitoring the situation.

Read more on:    absa  |  ancyl  |  protests  |  economy

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