Ramaphosa stop harassing the Up Money Club stokvel

Ramaphosa stop harassing the Up Money Club stokvel

The government of Ramaphosa has decided to fight against any black empowerment effort by blacks. The attack on the successful and poverty eradicating stockvel called Up Money Club is the latest in a long list of government campaigns to destroy black people’s empowerment efforts.

The R1 million fine and freezing of the assets and money of Up Money is aimed at collapsing the stokvel and then blaming its leaders for its fall. This is evil.

How can government call a stokvel where people contribute towards buying groceries for each other a ‘get rich quick pyramid scheme’? It is clear that the National Consumer Commission and National Consumer Tribunal are mere bulldogs of the Stellenbosch mafia which is not happy with Up Money because it is an independent initiative to take people out of poverty.

Black First Land First (BLF) calls on the government to leave Up Money alone. The media reports that the NCC took action against the stokvel are shocking when no one had actually laid a complaint. This is deliberate targetting of any initiative which threatens Stellenbosch.

Right now the government has sustained losses through corruption of over R68 billion in the State Owned Entities. The big retail stores owned by the Stellenbosch mafia have unlawfully raised prices of essential goods and these so called consumer watchdogs are not interested in correcting that. They attack the vulnerable instead.

BLF calls on the National Consumer Commission and the National Consumer Tribunal to forthwith stop the harassment of Up Money, unfreeze its assets and drop the punitive R1 million unjust fine.

BLF will urgently seek a meeting with the National Consumer Commission on this matter.

We call on the government to stop the attacks on network marketing efforts by the people. The people know the risks and are willing to take them. This is just like the case with any investment that has its risks. How many JSE listed companies have collapsed?

BLF says Hands off Up Money Club. it’s a mere stokvel trying to empower its members under these difficult Covid-19 conditions.

Issued by Black First Land First, National Coordinating Committee of (BLF NCC)
06 April 2021

Contact Details

Black First Land First Mail: [email protected]

Zanele Lwana
(BLF Deputy President)
Cell: +27 79 986 7225