We will shut ‘racist’ Absa down: Malema

EFF leader Julius Malema is reportedly aiming to shut down Absa banks across the country as part of a campaign to transform ownership.

According to the Sunday Times, the political figure is demanding that 51% of the bank be put into black hands, and follows a similar march to the JSE last month.

He said that Absa would not be able conduct business as a result of the campaign. “Fighters will walk into a branch and occupy it. No service, no nothing. We will close it down.

Malema, the Times said, wants 500,000 people to occupy the financial district of Sandton, although no time for the march has been allocated yet.

“I have got a strong proposal, which I have given to the EFF, that we should consider shutting down one of the banks. I’ve got Absa a priority because it’s…racist and one of the banks that incorporated with the Broederbond banks.”

Absa is now majority owned by UK-based Barclays. It serves approximately 10 million clients, and has more than 800 branches countrywide. It also employs more than 30,000 people.

“There is a huge debate going within the EFF about detailed practical programmes of attacks on white capital,” Malema reportdely said.

Absa told the paper that it had not received any communication from the EFF.

This article can be found in the 8 November, 2015. edition of the Sunday Times.

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We will shut ‘racist’ Absa down: Malema