Sunday , August 1 2021

& # 39; We should feel ashamed VBS cannot be saved & # 39; – Malema



We should be ashamed that we fold our hands and leave VBS Bank Mutual to be liquidated.

This is the view of EFF leader Julius Malema who gathered support from business professionals on Friday night in the party consultation process at the Forum in Bryanston, Johannesburg.

Malema said if there was a prospect of success in realizing VBS, he would be interested in doing so.

He said that the EFF was afraid of being labeled "corrupt" if it continued to maintain sustainable bank operations.

"Our bankers and legal team must advise us on what to do, and if necessary, raise appeals for liquidation," he said.

READ: The court ordered VBS Bank to be liquidated

He said that the Venda government under apartheid managed to run a VBS bank, but democratic governments failed to help.

"African banks are rescued … individuals who run VBS to land need to be handled and saved by banks".

The EFF consultation meeting forms part of the party's drive to have an inclusive manifesto ahead of the 2019 general election.

Most of those present were young professionals working in the financial sector.

Small business problem

Some of those present asked how the EFF would change the financial sector to benefit small businesses.

"The EFF must insist that large accounting firms must partner with black-owned companies to ensure capacity growth, and emancipation," said one person.

Others say insurance insurance companies must be handled, to enable small businesses in the insurance sector to be able to operate models that are beneficial to them.

Others added that regulators must be responsible for ensuring that their laws are not biased.

A young professional shows that companies can reclaim their VAT, but consumers, including retirees, cannot do it. He urged the party to deal with "constitutional" issues.

Malema considers experience experience for initial job opportunities, saying it is an unfair request by the company.

"If Nelson Mandela is required to have experience as president, then he will not become a statesman because he has no experience," he said.

Work protection

Malema goes on to tell financial professionals that a method must be found to protect the work.

"We have to find ways to retrain people, and equip them with the skills to adapt to the changing landscape we face."

Malema also touched policy uncertainty, and said those in power should not be afraid to make policies that would have their own government and control their assets.

"We must have management that is committed to employing black people, and women more specifically.

"We as EFF have political power with only 6%, and we will make changes," he concluded.

His party also held a consultative meeting with parents in Soweto on Thursday. It is expected to meet with informal traders this weekend.


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