Nzimande to address Parliament on the Financial Sector and Lead Marchers to Redline Cape Town Banks

17 September 2004

Today, the Chairperson of the Financial Sector Campaign Coalition (FSCC), Blade Nzimande, will address the Parliamentary Portfolio Committee on Finance on behalf of the NEDLAC Community Constituency as part of the NEDLAC briefing to this Committee. NEDLAC, government, labour and business will also address the Committee.

The briefing to the Committee will focus on progress in the implementation of the August 2002 Financial Sector Summit Agreement and the Financial Sector Charter. Nzimande's report, on behalf of the NEDLAC Community Constituency, will focus on the constituency's perspectives on the slowness of the implementation of the Summit Agreement.

Following this briefing, Nzimande will address the SACTWU national congress at the Cape Town International Convention Centre in his capacity as the General Secretary of the South African Communist Party (SACP).

He will then, together with the leadership of SACTWU and COSATU, lead the Congress on a march to redline the banking and insurance institutions in Adderley Street, Cape Town to submit a memorandum of demands to the financial sector. The demands are in response to resistance by the financial sector to move speedily in the implementation of the Summit Agreement and the overall transformation of the financial sector. The demands are also against the role played by banks which finance with retailers who are not promoting job retention and creation in the clothing and textile sector. This is a demand that SACTWU has been raising at NEDLAC and other forums.

The times and venues are:

1. NEDLAC briefing to Parliamentary Portfolio Committee on Finance

• from 09h30 to 12h00. Nzimande will address the Committee at 10h00.
• Committee Room E-249, National Assembly Wing, Parliament

2. SACTWU Congress

• Nzimande will address the Congress at 11h50
• At the Cape Town International Convention Centre

3. Mass action: REDLINE the banks

• march from the SACTWU Congress to Adderley Street banks, Cape Town
• 12h30 to 14h00

CONTACT
Collette Caine - FSCC Coordinator - 082 927 1063
Sizwe Shezi - NEDLAC Community Constituency Coordinator - 083 709 6936
Khaya Magaxa - SACP Western Cape Provincial Secretary - 083 721 0221

Or

Mazibuko Kanyiso Jara (surname Jara)
Head of the Office of the General Secretary
South African Communist Party
Tel - 011 339 3621, Fax - 011 339 4244/6880
Email - mazibuko@sacp.org.za, sacpho@wn.apc.org (alternate)