SACP Eastern Cape statement on the closure of FNB Branch in Cathcart

4 June 2012

The South African Communist Party (SACP) learnt with great shock and dismay the selfish decision taken by the First National Bank (FNB) to close the Cathcart Branch. The decision to abandon the people of Cathcart is a very bad move that leaves people with no other alternative.

This crude decision by the FNB to close the branch is against the spirit of the financial sector summit held in 2005, following the campaign by our party to make the banks serve our people. This proves beyond any reasonable doubt that the capitalist banks do not care about the people but only cares about profit making, to them its profit before anything. Our government must ensure that these banks serve people and not only focus on profit making. This further demonstrates why the banks have failed to invest towards low cost housing as part of the financial sector summit resolutions.

This closure will leave rural people and vulnerable groups as they now will be forced to travel long distances just to access a bank, they will be forced to spend more money to access their little money.

This indeed proves the correctness of the struggle for Socialism as the bourgeoisie mode of production is brutal to humanity. There has never been anytime more than now that the case for socialism is as great as the capitalist system continues to crumble.

We are calling upon people of Cathcart and Amahlathi at large to mobilize against this closure, do anything in their power to reverse this decision. We pledge our solidarity with the people of Cathcart and we recommit ourselves as the SACP to fight shoulder to shoulder with the people of Carthcart in this struggle.

Issued by the SACP Eastern Cape.

For more information contact:

Siyabonga Mdodi
SACP Provincial Spokesperson - 083 3588 070