SACP Eastern Cape launches coalition to transform banks, mass march in Nov

OCTOBER 19, 2015

The South African Communist Party (SACP) in the Eastern Cape on Monday announced that it had established its Financial Sector Campaign Coalition (FSCC) in Port Elizabeth, with the aim of speeding up transformation and diversification in the financial sector.

"The FSCC has been established to bring together a range of social forces.

"In this regard, we are working with COSATU, ANC, SANCO, YCLSA, ANCYL, SASCO, COSAS, SACC, PAC, Taxi Association, SANGOCO, AZAPO, NAFCOC, EC Sports Council, Cooperatives Development Network, etc," explained SACP Eastern Cape Provincial Spokesperson, Siyabonga Mdodi.

"We have mobilised these people’s organs into the Financial Sector Campaign Coalition (FSCC) to take an active role in transforming the financial sector to serve the people. We have done so because, the transformation of the financial sector or winning any struggle whether in the boardroom or in the streets requires a unified working class as a precondition for any possible advance.

"That no advance can be made without the active participation of the people, as the people are primarily the anchor of any struggle."

Mdodi said that the FSCC Provincial Chapter will be led by Vuyani Limba, as the Provincial Chairperson, while he will be acting as the Provincial Secretary.

"We have also established the FSCC District Chapters in the Skenjana Roji (Buffalo City), led by Zoliswa Matana and Xolani Wonono, as Chair and Secretary, respectively; O.R Tambo, led by Mevana and Mntuwoxolo Ngudle as Chairperson and Secretary respectively.

"We have also established Mbuyiselo Ngwenda (Nelson Mandela Metro) led by Msingathi Sipuka and Buqaqawuli Mrwetyana as the Chairperson and Secretary respectively," Mdodi described.

He said that the SACP led FSCC will amongst other issues campaign for the following issues which affect the South African working class:

  • To fight reckless and unsecured lending.
  • To fight against evictions of families from their homes
  • To fight against irregular garnishee orders that are affecting thousands of workers
  • To fight against unjustifiably exorbitant bank charges
  • We Demand the massification of consumer education programs
  • We Demand the community re-investment programs – particularly around housing
  • We call for the public administering of the unclaimed pension fund monies
  • We call for more investment in the Taxi Industry as part of unleashing the developmental potential of that industry as it continues to serve the workers and the poor in our country
  • To expose the gross abuses in the short term insurance industry including the funeral insurance industry
  • Call for the speeding up of processes towards the establishment of the Co-operatives Academy
  • The FSCC is also committed to work with COSATU in ensuring the Trade Union Investment Arms invest in transforming livelihoods of the workers and the poor
  • To campaign for the full licensing of the Post Bank
  • To campaign for the establishment of the cooperatives bank.

"The SACP led FSCC will lead a march to the big banks in Port Elizabeth, working with the range of social forces as afore mentioned. We will be marching in calling for the transformation and diversification of the financial sector to serve the people," Mdodi also said.

The march to the big banks will be held as follows:

Date: 05 November 2015 (Thursday)

Time: 09h00

Venue: Greenacres to FNB in Cape Road 

"As the SACP, we commit ourselves to work with all the people’s organs in realising qualitative transformation and diversification of the financial sector. It is in this context that we are calling all organisation who may wish to take active role in the FSCC to come on board," Mdodi said.

Image: From left to right: Baqaqawuli Mrwetyana - FSCC Mbuyiselo Ngwenda District Secretary; Msingathi Sipuka - FSCC Mbuyiselo Ngwenda District Chairperson; Vuyani Limba - FSCC Provincial Chairperson and Siyabonga Mdodi - FSCC Provincial Secretary.