'SA banks are treating poor communities unfairly'
Blade Nzimande called for an immediate moratorium on housing evictions at the JHB leg of Cosatu’s march.
JOHANNESBURG - South African Communist Party (Sacp) General Secretary, Blade Nzimande, has called for an immediate moratorium on housing evictions and says South African banks are treating poor communities unfairly.
Nzimande addressed the Johannesburg leg of Cosatu's march for decent work where he also called on banks to invest in South Africa, instead of taking their investments abroad.
He said banks should stop investing in shopping malls because this doesn't create enough jobs.
Nzimande says four major companies have monopolised South Africa's banking industry to the detriment of the poor.
He says corrupt officials are responsible for evictions taking place in poor communities.
"What we want to fight against is bank repossessions of houses. Some of them are sold for R10 with a collusion between officers and magistrates as well as bank officials."
Nzimande says the Sacp will intensify its financial sector campaign aimed at transforming the industry.