Cape Town – Civil society, youth, business and political groups marched to the Western Cape High Court today in support of the Sekunjalo Group at the Equality Court where the hearing of Sekunjalo’s racial discrimination complaint against Nedbank gets under way.
The march, labelled 'RacistBanksMustFall', calls for the fall of “racist banks” after the closing of Sekunjalo’s bank accounts by the banks, and asks for an end to closing bank accounts of black-owned companies.
The urgent interdict in the Equality Court came after Judge Matthew Francis in the Western Cape High Court, dismissed an earlier application against the bank on jurisdictional grounds, referring to the need for the merits of the case to be heard in the Equality Court and by the Competition Commission.
Upon arrival at the march, concerned community members convenor Silas Rataza said they stood in solidarity with the Sekunjalo Group and all its affiliated companies, as racial profiling by banks was “not limited to business but also played a role when black youth from previously disadvantaged communities applied for study loans”.
“When we speak about bonds and car financing, the same racial profiling applies so we relate to the same struggle that Sekunjalo finds itself in.
“The issue banks are raising here of reputational risk has no real substance. Look at Steinhoff, the biggest money heist in our country, and what has happened to them? Why are their bank accounts not being closed?” Rataza asked.
Rataza said it was clear this issue was racially motivated, with politics at play.
Youth Business Chain executive chairperson Michael Mayalo said they were frustrated by the way banks were doing things.
“We are saying banks must stop racial profiling, discrimination and purging of black businesses,” Mayalo said.
Upon arrival, convener of Concerned Community Members, Silas Rataza, said:
— Cape Argus (@TheCapeArgus) March 10, 2022
Video: @_kuristina pic.twitter.com/pTQ8PtQvlQ
@IOL #racistbanksmustfall pic.twitter.com/bQ3WSjur5b
— Mayor of Muizenberg Chad Anthony Williams (@TheChadAnthony1) March 10, 2022