ANC Youth League President Vows That ‘Absa Must Fall’


The ANC Youth League President Collen Maine says “Absa must fall”. He said the bank is responsible for the strain and record lows that the rand is passing through and for that, “Absa must fall”.

It was reported that Maine visited the Absa branch at The Grove Mall in Pretoria on Monday 18th, where he withdrew all his money and closed his account. He later transferred his finances to a different bank.

“Absa must fall. They are colluding to bring down our economy,” he said after his transaction at the bank.

Maine said Barclays, which started Absa, never had the interests of the country at heart and was responsible for the economic collapse in December.

“Barclays is a key role player in sabotaging our economy. It is not a South African bank and they have no interest in our country and economy. They are manipulating and sabotaging our economy. But anyone who wants to undermine our country will meet the full might of the ANC Youth League. We will collapse the bank,” he said.

The youth league president said the league would mobilize the youth to march to the bank and encourage people to withdraw their savings. Saying that they would bring the financial institution to the ground.

See Also: More Trouble For Absa – ANCLY Wants The Finacial Institution Boycotted And Sanctioned

“We will mobilize around 50 000 youths to march against Absa. We will call on everyone else to join to show that we are proud South Africans and we will fight for our country. The business of Absa is not our business and we don’t care how they will cope afterwards. Absa must fall. We will bring it down,” he said.

Maine said that they would be speaking to government to look at the possibility establishing a state-owned financial institution that would have the interests of the country at heart.

“In the long run, we want the ANC government to look at the possibility of a state-owned bank that will have the interests of South Africa,” said Maine.

With this development, one can predict that Absa will be having a load of unpleasant issues to deal with sooner than later. Last year, the EFF made it clear that the party members will be physically occupying all Absa bank branches this year when the party took their fight to the streets of South Africa marching in thousands for economic transformation of the country.

On one of those occasions, the EFF stormed the Chamber of Mines, the South African Reserve Bank and the JSE in Sandton demanding that the big-shot financial institution in the country enable abounding opportunities for the “so long disadvantaged and marginalized majority”. That was when Julius Malema, the EFF leader made the statement below.

“A special team has been established to work on occupation of Absa, we’ve a list of all branches of Absa, we’re not going to make announcement, you’re going to be told one morning when you wake up that Absa branches are occupied. We want to do that to demonstrate to the financial sectors that we are serious about the transformation of that institution. We’re using Absa because it’s an amalgamation of brutal born Afrikaners banks, so we’re taking the battle to them, and saying to them; you ought to transform, you ought to share the wealth of the country, you must participate in the development and empowerment of our workers, including our communities. So Absa is an unfortunate bank because…of it’s history and it’s relationship with secret society call brutal bond. So we’re going to be attacking them next year”

Absa has not made any comment on the issue for now.

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