Johannesburg - EFF leader Julius Malema has accused South African banks of targeting people and institutions they do not agree with.
Malema said banks pick and choose whose bank accounts they close based on whether they like that person or institution. Malema was speaking during a press briefing held at the Winnie Madikizela House at the party’s headquarters in Johannesburg.
He said those who hold a differing view have had their accounts closed down, while those who agree with the establishment enjoy the privilege of having their accounts remain open even in the face of damning allegations and evidence against them.
He said even though President Cyril Ramaphosa has been fingered in money laundering following the Phala Phala farm robbery in 2020, where millions of dollars were stolen from his farm, the local banks have not closed his bank accounts, while with others, banks have been quick to close their bank accounts.
"Why are the bank accounts of someone who has confessed that he kept millions of dollars at his farm still not closed down? There is an urgent need to transform this sector, and at the centre of this is the nationalisation of the South African Reserve Bank," he said.
Malema also accused the banks of being political in their dealings with a section of the population and using them as a tool to fight political battles.
"The banks and the financial sector have become another avenue to fight political battles, and those opposed to the establishment and those who hold different views are punished by having their bank accounts closed due to their political views," he said.
He also said some of the banks are playing a role in promoting illicit activities and illicit financial flows, which impact negatively on the country’s economy.
"As things stand, the banks of South Africa are part and parcel of the massive tax evasion, money laundering, and illicit financial flows that characterise the South African economy and erosion of our currency," Malema added.
Malema said the state of the country’s SOEs remains a big concern, as it is clear that there is an attempt to sell them off to the highest bidder. He said SOEs, such as SAA, Denel, and the Post Office, were some of the entities that have suffered due to this, adding that the removal of the ANC was urgent.
"The removal of the ANC from government has become urgent because the route is taken to destroy SOEs means that the future generations will have nothing to inherit but debt and slavery to a greedy private sector," he said.
The Star