SIYABONGA SITHOLE
Cosatu says it is concerned by the recent closure of the Sekunjalo Group bank accounts by Standard Bank and threats by Nedbank which has resulted in the media company instituting an interdict to prevent Nedbank from terminating its relationship with the company.
Cosatu spokesperson Sizwe Pamla said this new trend, which was observed a few years ago with the closure of the account of TNA (The New Age), was worrying as it had an impact on the jobs of the more than 1 800 employees of the media company.
“Cosatu as a trade union federation is concerned about the possible impact of the closing of bank accounts at Independent Media on its employees. With an unemployment rate (in South Africa) of 45%, we must be worried about losing any more jobs,” Pamla said.
He said the issues between the group and the banks should not be allowed to affect innocent lives.
“The issues ... are between Independent Media, the banks, and the law enforcement agencies. They should not spill over onto workers at Independent Media who, like all other workers, just want to take care of their families,” he said.
Cosatu said it urged Independent Media to make representations to the banks and to present their side of the story. If they felt this did not resolve matters, then they should continue to approach the courts as was the right of all aggrieved parties.
“The banks need to provide their reasons as to why they feel Independent Media may be in breach of the law and hence the need to close their accounts. The law enforcement organs and the PIC (Public Investment Corporation), as an investor, need to speak on this matter and not simply leave it up to the banks who can do very little about allegations of criminal activities and fraud,“ Pamla said.
He said threats to close the Sekunjalo Group accounts should never be allowed to continue to drag out in public.
“What we cannot afford is to see matters dragged out, workers sent to the unemployment queue, their wages slashed unilaterally, pensions and medical contributions gone unpaid and PIC investments lost,” Pamla added.