Western Cape Social & Economic Development Forum

29/07/2024

Media Statement
29 July 2024

For Immediate Release

The South African Social and Economic Development Forum (SASEDF) & The People's Movement for Change (PMC) condemns the CEO of ABSA

Over the past weekend the Sunday Times revealed serious allegations of anti transformation, lapses in governance and some illegal payments made by the current ABSA CEO, Mr Arrie Rautenbach to a former ABSA CEO, now a United States citisen exposing the bank to a massive international reputation and compliance scandal.

This scandal has exposed serious maladministration and unlawful conduct at the highest level of ABSA. The SASEDF and the People's Movement for Change (PMC) has raised the great frustrations in terms of the slow pace of transformation and lack of favourable procurement opportunities for SMME's within the bank, especially with ABSA Insurance. The revelations of the Sunday Times underpins and confirmed the anti transformation culture at the Executive level of ABSA. The allegded misconduct and unlawful actions by the CEO of ABSA must be dealt with immediately. He has compromised the transformation project and caused serious international reputational risks to ABSA.

The SASEDF and its members are victims of the slow pace of transformation and we are extremely frustrated with ABSA Insurance. The anti transformation culture and business practices is killing our members. We now understand that whilst we have CEO's like Rautenbach and others at the helm, we will have no other option but to protest to demonstrate and fight for greater transformation.

The SASEDF will therefore take up the spear and will go to the doorways of ABSA Bank in Capetown to picket for the implementation of transformation and the removal of Mr Rautenbach with immediate effect. We are observing the weather conditions for the week and will inform and update the public in the date of picketing at the doors of ABSA.

South African Social and Economic Development Forum (SASEDF)
People's Movement for Change (PMC)
0728125773

22/09/2023

I had a discussion with another guy from Congo in one of the Somalian big cash $ carry promoting Pitsi mealie meal .He said to me you guys are very much unfair to ANC led goverment and he further said the following 👇
1.ANC gave RDPs mahala
2.ANC gave grants mahala
3.ANC gives the youth who further their studies NSfas mahala
4.The ANC led goverment provide free health fascilities to all the people in the country
5.The ANC gives R350 every month mahala to millions unemployed and he further said none of all the above is done in all the countries around the continent .We need to tell people to be careful of wanting to reject ANC .We will regret the rest of our lives comrades so lets work and make the ground fertile because even though we had challenges ANC led government is incomperable💪💪💪🙏🏽🙏🏽 FK i have hope ANC leads ANC lives 💪💪💪💪

01/11/2022

This the DA for you. Talk about everybody elses wrongs and forget about their own, failures. In Mitchells Plain. From where the DA derive most of its support.

20/10/2022

17/10/2022

https://www.news24.com/news24/southafrica/news/city-of-cape-town-accused-of-forking-out-almost-r500-000-for-da-councillor-nora-groses-legal-bill-20220901

The City of Cape Town has reportedly splurged nearly R500 000 in legal fees for fraud-accused DA councillor Nora Grose.