Transform the financial sector the serve the people

17 July 2014

The SACP in the Eastern Cape convened a successful Financial Sector Campaign Coalition (FSCC) yesterday, 16 July 2014 at the East London City Hall. The workshop was attended by the range of organizations, our allies COSATU and SANCO, our YCLSA, SASCO, TAC, etc.

This workshop was intended at mobilizing the people in general and working class in particular to fight for the transformation of the financial sector to serve the people. We are of the view that the transformation of the financial sector or winning any struggle whether on the table or in the streets requires a unified working class as a precondition.

The presentation by the member of the FSCC National Chapter, Cde Moeketsi Rakgosi shed light to many and served as a basis for representatives from different organisations to engage extensively in discussion, analysing the current situation and proposing solutions.

The FSCC workshop agreed on the following programme, in the main:

1. Fighting against reckless and unsecured lending.
2. Fighting against evictions of families from their homes.
3. Fighting against irregular garnishee orders that are affecting thousands of workers.
4. Fighting against unjustifiably exorbitant bank charges.
5. The massification of consumer education programs.
6. Community re-investment programmes - particularly around housing.
7. Calling for the public administration of the unclaimed pension fund monies.
8. Calling 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.
9. Exposing the gross abuses in the short term insurance industry including the funeral insurance industry.
10. Calling for the speeding up of processes towards the establishment of the Co-operatives Academy.
11. Working with COSATU in ensuring the Trade Union Investment Arms invest in transforming livelihoods of the workers and the poor.

The workshop therefore established a FSCC Provincial Chapter and a committee which will work to coordinating the programme. The FSCC Provincial Chapter will be chaired by Cde Vuyani Limba, SACP Provincial Treasurer and include one representative from all the organs.

As the SACP we wish the FSCC Provincial Chapter all the best and pledge our full support in ensuring the struggle for the transformation of the financial sector to serve the people is achieved.

The FSCC workshop through the SACP Provincial Secretary, Cde Xolile Nqatha, expressed its solidarity with the people of Palestine who are dying under Israeli oppression and occupation.

"We meet here today when thousands of people of Palestine are being killed by apartheid Israel. Israel with the assistance of America is denying the people of Palestine their freedom and their right to self-determination. The land of Palestine is being bombed by Israel. Israel is no different to the apartheid South Africa except being worse, a system which was declared a crime against humanity by the United Nations. Therefore the oppression of the people of Palestine is equally a crime against humanity. As South Africans we are direct beneficiaries of international solidarity, hence we must in solidarity with the people of Palestine isolate the apartheid Israel": said the SACP Provincial Secretary, Xolile Nqatha.

Issued by SACP Eastern Cape.

Contact:

Siyabonga Mdodi: SACP Provincial Spokesperson
Cell : 083 3588 070
Tel : 043 6350 463
Fax : 086 2681 281
Email : simdodi@gmail.com