ANCWL Statement on National Budget 2017/18
The African National Congress Women's League (ANCWL) has noted the National Budget speech 2017/18 delivered by the Minister of Finance on the 22nd February 2017. Regrettably there are incoherences between the SONA by the President and the budget speech by the Minister and we are hoping that this incoherence will not trickle down to various departments who are responsible for implemenation of government programmes. This will be a direct sabotage to the radical socio-economic transformation agenda of the ANC led government.
The ANCWL's remarks on the speech are on the following issues:
1. Financial sector
The speech was delivered few days after Competition Commission reported on massive corruption done by some of the banks. Very disappointing that the Minister did not delve deeper into the corruption of the banking cartels and this will fit the narrative that the ANC-led government is lenient on fraud and corruption by corporates. The soft gloves treatment of cartels has to stop with immediate effect.
The ANCWL's call is that the banks who are guilty of corruption must have their operating licences revoked, criminal charges laid against their Boards and Executives and be fined 100% of commission earned out of the corrupt acts. Government must stop doing business with banks charged with corruption with immediate effect.