Giwusa: Nationalise the finance monopoly capital


Picture: SARB

South Africa’s finances are not in the hands of its people, and this is contributing to the high interest rates that have hit citizens over the past nine months.

The General Industries and Workers Union of South Africa (Giwusa) will be taking this concern to the South African Reserve Bank (SARB) tomorrow.

It’s called for the end to the privatization of the SARB.

Giwusa President, Mametlwe Sebei says that the Reserve Bank consists of investors who benefit from high interest rates as they trade on the international markets.

He has criticised them for taking their investment out of the country when they should be advancing South Africa’s interests.

Sebei contends that nationalizing the South African financing industry will prove beneficial for all.

Tomorrow’s protest comes as Stats SA has released the latest consumer price inflation figures, which show that the cost of basic goods like dairy and cereals have increase exponentially.


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