'We should be ashamed VBS could not be saved' - Malema

2018-11-17 08:18
EFF leader Julius Malema.

EFF leader Julius Malema. (Photo: Felix Dlangamandla)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

We should be ashamed that we folded our arms and left VBS Mutual Bank to be liquidated.

This is the view of EFF leader Julius Malema who was canvassing the support of business professionals on Friday night at the party's consultative process at the Forum in Bryanston, Johannesburg.

Malema said if there were any prospects of successfully resuscitating VBS, he would be interested in doing so.

He said that the EFF was afraid of being labelled "corrupt" had it continued to defend the bank's continued operation.

"Our bankers and legal team must advise us on what should be done, and if needs be, appeal the liquidation," he said.

READ: Court orders VBS Bank to be liquidated

He said that the Venda government under apartheid successfully ran the VBS bank, but a democratic government failed to aid it.

"African Bank was saved... individuals who ran VBS to the ground needed to be dealt with and have the bank saved".

The EFF consultative meetings form part of the party's drive to have an inclusive manifesto ahead of the 2019 general elections.

Most of those who were present were young professionals working in the financial sector.

Small business concerns

Some of those in attendance asked how the EFF was going to change the financial sector to be beneficial to small businesses.

"The EFF should insist that large accounting firms should partner with black-owned companies to ensure capacity growth, and emancipation," one person said.

Another said the underwriting of insurance companies should be addressed, to allow small businesses in the insurance sector to be able to operate models which are beneficial to them.

Others added that regulators should be held to account to ensure that their laws are not biased.

One young professional pointed out that companies are able to claim back their VAT, but consumers, including pensioners, are unable to do so. He urged the party to deal with the issue "constitutionally".

Malema weighed in on the experience requirement to an entry level job opportunity, saying it was an unfair request by companies.

"If Nelson Mandela was required to have experience to be president, then he would not have been a statesman because he had no experience," he said.

Job protection

Malema went on to tell the finance professionals that a way must be found to protect jobs.

"We should find ways to re-skill people, and equip them with skills to adapt in the changing landscape we find ourselves in."

Malema also touched on policy uncertainty, and said those who are in power should not be afraid to make policies which will have government own and control its assets.

"We need to have management which is committed to hire black people, and women more in particular.

"We as the EFF have got political power with just 6%, and we will make changes," he concluded.

His party also held a consultative meeting with the elderly in Soweto on Thursday. It is expected to meet with informal traders this weekend. 

Read more on:    eff  |  vbs mu­tual bank  |  julius malema
NEXT ON NEWS24X

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

 
/News
Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.