SAFTU is disgusted at the immoral, corrupt and racist behaviour of FNB

11 March 2019

The South African Federation of Trade Unions - SAFTU is looking at what more legal and political steps should be taken to make the First National Bank held accountability for the racist, immoral and rogue activities of the bank. 

The FNB and its predecessor SAAMBOU has been shown to be driving a programme of disempowerment at the time when there is a need to empower black people. The bank is driving thousands of black homeowners bonded with the bank into poverty and homeless by charging them 30% to 40% above what it charges white homeowners in interests. This is criminal and exposes that greed drives the banks and the capitalist system, which then breeds corruption.

SAFTU will consult its structures to ensure that by Thursday pickets are held in all the FNB branches across the country. In addition, we shall write a letter to the CEO to demand explanation. SAFTU demands that every cent that has been made through this thuggery must be returned back to the consumers without any further detail. We shall also be writing to the Public Protector to request that office investigate if this practise does not extend to all other banks. 

Issued by Zwelinzima Vavi, SAFTU General Secretary, 11 March 2019