Political Parties Target Wesbank for Alleged Discrimination

The Sunday Independent recently reported on how banks, including Wesbank, profited by manipulating the rand, adding to the growing scrutiny on financial institutions. ActionSA and ATM are now calling for heads to roll at Wesbank in response to the alleged overcharging of black clients.

ActionSA has announced its intention to write to the South African Human Rights Commission (SAHRC) to investigate the serious allegations made by the former employee. The party emphasized that it is not directly accusing Wesbank but believes the commission is better equipped to establish the veracity of the claims.

The party asserted that if proven true, Wesbank's actions contradict the principles of non-racialism enshrined in the South African Constitution, and such covert racism cannot be tolerated. In a statement, ActionSA highlighted the importance of every business in South Africa acting morally and treating all citizens equally in the workplace.

The party emphasized the fragility of non-racialism in the country, calling for a thorough investigation into the alleged discriminatory practices at Wesbank. Similarly, the ATM expressed concerns about the reported practices at Wesbank, characterizing them as part of a broader pattern of systemic discrimination within the financial sector.

The party criticized Wesbank's silence on the allegations and urged the finance provider to address the accusations transparently. The ATM emphasized the severity of the claims and called for immediate corrective actions to rectify any discriminatory practices. Financial investigator Emerald van Zyl, who independently looked into the matter, reportedly received multiple complaints supporting the allegations that black clients were charged significantly higher interest rates.

The ATM reiterated the necessity of investigations into discriminatory practices within the financial sector, underscoring the importance of justice prevailing within the financial system. Wesbank has denied the allegations of discrimination against customers based on race.

The political parties, however, are pushing for a thorough and transparent investigation to ensure accountability and justice, echoing broader concerns about the potential breakdown of social cohesion in South Africa if discriminatory practices persist unchecked.

Source: IOL