Katlego Sekhu

Due to high interest rates, the leader of the EFF, Julius Malema has proposed a bold idea: a two-day boycott of all banks in South Africa to demonstrate the power of the people. The 959 Breakfast team discussed Malema’s call and posed an intriguing question to their listeners: Would you support Malema’s boycott, and if it proved successful, what demands should we make of the banks?
But we should have two days of not banking against all banks in South Africa to show them the people's power because they think they are all powerful against the people’s power.
— Julius Sello Malema (@Julius_S_Malema) October 17, 2023
One listener raised a concern about the practicality of this initiative. “The intention is good, but my issue is how this will be executed. If there is a chance of us winning at the end of the day, then maybe I should consider it.”
Another listener criticized financial institutions for providing loans to individuals who simply cannot afford them. “I don’t think banks understand the impact of their decisions on consumers. For example, some institutions overburden indebted people to the point where they can’t survive and are still expected to cough up charges,” said the listener.
Listen to the full discussion on the podcast.
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