Black First Land First March to South African Reserve Bank

February 20, 2017
Black First Land First March to South African Reserve Bank

Black First Land First March to South African Reserve Bank

By Dipo Olowookere

On Friday, the Black First Land First (BLF) movement marched to the South African Reserve Bank (SARB) to demand that the institution act on the Public Protector’s preliminary report which found that ABSA illegally benefited from apartheid cash injections from the SARB.

BLF joined the ANC Youth League (ANCYL) recently in a march to ABSA headquarters to demand that #ABSAmustPay. The Public Protector, Adv Busisiwe Mkhwebane, found that ABSA should pay R3.2 billion.

BLF said they wanted the SARB to take seriously and act on findings of the CIEX report, which investigated money stolen during the late stages of institutionalised apartheid. The report found that R26 billion could be immediately recoverable.

The aim of the march was to also implore the SARB to punish corrupt banks, ABSA, Standard Bank and Investec, which the Competition Commission found had manipulated and fixed the rand/dollar price.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

Leave a Reply

Dubai’s ‘DEAL 2017’ to Benefit African Market
Previous Story

Dubai’s ‘DEAL 2017’ to Benefit African Market

Proposed N250m Gatehouse Untrue—Osinbajo
Next Story

Proposed N250m Gatehouse Untrue—Osinbajo

Latest from Economy

Don't Miss