The African National Congress (ANC) of Cyril Ramaphosa is killing black empowerment. Black First Land First (BLF) is not suprised by the shutting down of the VBS Mutual Bank by the South African Reserve Bank (SARB). SARB is controlled by white monopoly capital (WMC) and serves the white owned banks.
The withdrawal of the motion on the nationalization of SARB by the ANC of Cyril Ramaphosa is part of the plan to keep the South African financial sector white. VBS Mutual Bank is being punished for being black owned and for giving a loan to former President Jacob Zuma.
We note a similar destructive role played by SARB in the closure of the Bank of Baroda (BoB). We note also how the same SARB has in fact taken the Public Protector to court to ensure that ABSA does not pay back the money it stole from SARB itself. We further note how quickly SARB jumped to defend the white owned Capitec bank when its dodgy accounting methods were exposed by Viceroy.
SARB has a duty to protect and support the VBS Mutual Bank. However, SARB has chosen to conspire to shut down VBS Mutual Bank like it has done with the BoB.. SARB wants to keep the South African banking system white.
BLF will not allow the shutting down of VBS Mutual Bank. We call on Cyril Ramaphosa to instruct SARB to stop its evil plan to shut down the bank. The irrational conditions are designed to kill black banks.
BLF will be mounting pickets at SARB until a sustainable solution is found. VBS Mutual Bank must be fully licensed before the end of 2018.
SARB is the enemy of Radical Economic Transformation (RET). It is moreover the instrument used by WMC to kill black empowerment. All the governors of SARB must be fired including its Registrar.
Hands off VBS Mutual Bank!
ISSUED BY THE NATIONAL COORDINATING COMMITTEE OF THE BLACK FIRST LAND FIRST MOVEMENT (BLF NCC)
11 March 2018
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