EXCELLENT: S.African Bank challenged for discrimination against Minorities (People) in lending practises
(:E-:N-:R-AZ:C-30:V)
[This is Afriforum, the richest Afrikaans organisation in the country. This is the closest thing there is to " Power" even though they will NEVER defend a for the fake crime of racism. Jan]
Bank requires that businesses applying for small and medium enterprise financing be at least 51% person-owned
AfriForum challenges ABSA on racially discriminatory criteria for business financing
15 June 2022
AfriForum’s legal team directed a letter to Absa bank demanding clarity regarding its use of racial criteria in granting business financing. This comes after AfriForum received complaints from members of the public regarding Absa’s purported qualifying criteria for small and medium enterprise business loans.
For these loans, Absa requires, among other things, that the business applying must be at least 51% person owned. These loans provide access to loan amounts between R50 000 and R1,5 million for new and existing businesses with a minimum of 51% person ownership in all sectors except agriculture.
In light of the above, AfriForum requested written feedback in response to the following questions:
Why does Absa require 51% person ownership to apply for business finance successfully?
Is this requirement by Absa due to a statutory and/or regulatory requirement, or is Absa’s internal policy to only provide access to business finance to companies that are 51% person-owned?
How does Absa square its policy with the general rule that businesses with an annual turnover of less than R10 million qualify as Exempted Micro Enterprises (EMEs) that do not have to conduct a full BEE verification to achieve a BEE level?
How does Absa justify this exclusion in light of the South African Constitution that champions non-racialism and equality?
Does Absa provide other options to businesses that do not comply with being 51% person-owned?
Ernst van Zyl, Campaign Officer for strategy and content at AfriForum, says that policies and practices requiring racial classification extend and preserve the racial classification system used by the apartheid regime. In effect, it keeps the Population Registration Act of 1950 alive long after it was repealed in 1991.
“It is sickening how normalised discrimination against racial minorities has become in South Africa. In principle, racial discrimination is wrong, and the double standards that the ANC and its allies push in this regard are abhorrent and unacceptable,” Van Zyl concluded.
Issued by Chanté Kelder, Media Relations Officer, AfriForum, 15 June 2022
Video: An amazing small Community this is the way to live
This is a short video to show you some amazing People. This is a short piece from a much bigger, more comprehensive video.
Video: An Important warning to the Dutch, Europeans & Western Nations
This is based on a special video that I did in May 2021, for a group of people in Holland. The goal was a warning to People in the West about the future.
Video: Keeping People DOWN: Scientific & Historic FACTS that have to be HIDDEN from People
This is a very important video that I put a tremendous amount of effort into. I wanted to summarize scientific and historic facts from 40,000 Years of the history of the European (White) race. This is the story of where we come from and how we came to be what we are, and why we are awesome. We look at thousands of years of the effort of our ancestors.