Banks Weaponised To Racially Profile Clients And Punish Those Identified As Enemies Of The Colonial Establishment
March 19, 2024
uMkhonto we Sizwe Party has noted with chagrin the news that First National Bank has closed the accounts of President Jacob Zuma. Whilst not surprising, this political attack by FNB confirms, in no uncertain terms, that financial institutions in our country have chosen a side of those who are hell-bent on preserving the colonial status quo of continuing landlessness, ever-growing poverty levels and entrenched economic marginalization and exploitation of the majority in our country.
The FNB’s latest stunt of denying President Zuma access to much-needed banking services is not an isolated incident. It is part of a concerted effort by banks to punish those that are viewed by the colonial establishment as enemies. It is common course that Dr Iqbal Surve and his companies including Sekunjalo Group – a shining example of black excellence – have had their banking facilities arbitrarily closed by all the infamous Big Four gang of ABSA, FNB, Nedbank and Standard Bank, for a flimsy and nebulous reason of allegedly posing reputational risks to these financial institutions. It is clear that they are a law unto themselves.
MK Party views this gibberish about “reputational risk” as a ruse and a clumsy attempt at concealing their real motives – a chilling warning to anyone who dares to challenge the status quo.
Dr Surve is not the only one as Mr Matshela Koko and his family members have suffered the same fate. It is no coincidence that all these victims are black and have been vocal about the status quo in our country.