ANCYL leader closing Absa account

Johannesburg - ANC Youth League president Collen Maine will close his Absa bank account because he believes it is contributing to the decline in the value of the rand.

"We have said that Barclays Bank and Goldman Sachs are conniving to destabilise our economy. We can't continue to support people who have no interest in South Africa," Maine said.

Absa is a member of the Barclays Group.

He claimed international banks were targeting BRICS countries because they were a "threat to their agenda".

Maine said this was why the ANC Youth League was calling for a boycott of Absa.

However, he said this had nothing to do with the Economic Freedom Fighters' plan to "occupy" Absa.

In November last year, EFF leader Julius Malema said his party wanted "practical action" from companies like Absa to address inequalities in the country.

"We targeted Absa because it is the amalgamated banks of the Broederbond who operated during apartheid and stole our money on the eve of democracy," he claimed.

Malema did not give a date or time, but said on one day 3000 EFF members would occupy each branch of Absa around the country.

This article first appeared on News24 – see here.