EFF the 'number one defender of white monopoly capital' - PPF

Mzwanele (Jimmy) Manyi. (Netwerk24)
Mzwanele (Jimmy) Manyi. (Netwerk24)

Johannesburg – The EFF have become defenders of white monopoly capital in supporting the new Fica bill, the Progressive Professionals Forum said over the weekend.

"EFF has turned from being a pseudo-socialist noise maker to number one defender of white monopoly capital," the organisation’s secretary general Siphile Buthelezi said in a statement.

"[The EFF] is on a frolic to dance for its supper by trying too hard to impress Rupert et al, more harder than the Democratic Alliance [sic]."

The EFF could not be reached for comment on Sunday and Monday.

The party was the DA’s "new foot soldier" and it had incorrectly "megaphoned" critics of the Financial Intelligence Centre Act (Fica) Amendment Bill as being corrupt in some way, according to the PPF.

The PPF said while it was opposed to economic and financial crimes, it believed the bill discriminated against black people and business.

Among its concerns was that "unethical banks" would freeze the accounts of funders of the ANC and other progressive political parties, who were black and engaged in legitimate business with the state.

This could frustrate the ANC’s transformation agenda.

'Corruption and money laundering'

Last week, Fin24 reported that the EFF had expressed support for the Fica Bill, saying it was needed to fight crime and illicit flows in the country.

"If politicians and influential people earn their money justly and from non-corrupt activities, they will have no difficulty with legislation that fights corruption and money laundering," it said in a statement.

First introduced by former finance minister Nhlanhla Nene in October 2015, the bill’s progress stalled after President Jacob Zuma referred it back to the National Assembly in November last year. He expressed concerns over its constitutionality in certain aspects.

Last week, the EFF and PPF head, Mzwanele Manyi, clashed during public hearings into the bill.

Manyi threatened to take the president to court should he sign the bill, according to City Press.

The bill requires banks to conduct due diligence assessments of various customers, including those considered politically exposed.

It introduces the notion of prominent influential persons – which will include those doing business with the state.

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