Victory for BLF, ABSA to pay back the money!

Victory for BLF, ABSA to pay back the money!

Black First Land First (BLF) has tasted partial victory in its long difficult battle to recover the R26billion stolen by white capital from the South African Reserve Bank (SARB). BLF has undertaken a consistent struggle to let white capital pay back the money. A leaked  report of the Public Protector on the investigation of white capital looting the state has vindicated BLF!

The revelation that ABSA must pay back the money comes a day after a successful meeting was held at the Head Quarters of the Office of the Public Protector in Pretoria between the said Office led by Advocate Busisiwe Mkhwebane and BLF leadership. To this end, BLF was fully briefed on progress around the R26billion investigation. Furthermore, an agreement was reached about how to pursue the full R26billion! BLF is committed to the recovery of all the stolen money.

ABSA is implicated in the theft of R3.2 billion of the R26billion. From the look of things, ABSA is playing delaying tactics with the hope of avoiding repayment of the money. BLF will be taking direct action against ABSA to ensure that the money is paid back. 26 members of our movement spent 8 nights in jail last July for protesting the lack of action on the part of the former Public Protector, Advocate Thuli Madonsela, regarding the investigation lodged at her office in 2011 that she had allowed to gather dust. The 26 BLF members are out on bail and will be appearing on 02 February 2017 in the Tshwane Regional Court. Their struggle is not in vain. BLF is going to continue to monitor the process relating to the investigation of the stolen R26 billon. In this regard, where necessary it will take both protest and legal action to get progress.

The R26billion belongs to the black youth and must be ring-fenced towards that end by national treasury. These funds must not disappear into the fiscus and end up being used for other purposes. BLF shall write a letter to both the President and the National Treasury asking for guarantees that the recovered funds shall be used only towards realizing the Fees Must Fall campaign and for the unemployed black youth.

BLF notes that there is still a long way to go to recover the funds including those stolen by Daimler Chrysler, Johann Rupert and Amscor, all of which form the total of R26billion. These are public funds and must be recovered without any further delay.  BLF has already briefed its lawyers to provide advise on possible civil claims to recover the money. 

BLF has promised to end white corruption – this is a commitment that shall be realised. The victory against ABSA is a partial but important victory for BLF. We call on our people to join us in the battle to end corruption for real. The struggles and sacrifices of BLF are paying off. Our victories are victories for the black unemployed youth and black students who need funds to study. 

Land or death, victory is certain!

Issued by Black First Land First, National Coordinating Committee (BLF NCC) 

13 January 2017

Contact details 

Black First Land First Email:[email protected]
Facebook: Black First Land First | Twitter: @black1stland1st

Deputy National Coordinator:  Thandiswa Yaphi. 
Email: [email protected] 
Cell no: 0631073163

Zanele Lwana
(National Spokesperson)
Cell: +27 79 486 9087
Mail: [email protected]

Lindsay Maasdorp
(National Spokesperson)
Cell: +27 79 915 2957
Mail: [email protected]­om

Leave a Reply

Your email address will not be published. Required fields are marked *