740 total views, 1 views today
Hundreds of ANC Youth League supporters have stormed Absa’s Durban branch in protest, after a leaked draft public protector report indicated that the bank had to repay a R2.25 billion bailout it received during the apartheid era.
The Youth League, alongside other protest groups Black First Land First, have already announced plans to continue with the movement in South Africa’s other major metros in a bid to get the financial institution to pay back the money.
Public Protector Busisiwe Mkhwebane’s leaked draft report found that billions of payments made to the Bankorp group of banks – which was later acquired by Absa – were irregular, and ordered that they be paid back into the fiscus.
Further recommendations included that president Jacob Zuma set up a judicial commission of enquiry into the apartheid-era looting of the estate.
Reaction to the report and subsequent mass movement against Absa has been mixed on social media platforms, with many already calling for government to close its accounts with the bank, while others believe that the report and subsequent protests are premature and politically-motivated.
😠😠😠ANC wants ABSA to pay them 2.2 billion rands and they are threatening them, but they are busy blowing millions on useless things mxm
— T h a m i e (@iamthamsanqa_sa) January 26, 2017
We are going to picket in over 50 Absa branches this Saturday
— Zwelakhe Dubasi (@zwelakhe_dubasi) January 26, 2017