LIQUIDATION OF ITHALA BANK @KASIBCNEWS 

The Economic Freedom Fighters (EFF) strongly condemns the decision of the South African Reserve Bank (SARB) Prudential Authority (PA) to apply for the liquidation of Ithala SOC Limited. 

The EFF further condemns the failure of the National Treasury to step in and support Ithala SOC Limited in obtaining a banking license, thereby allowing its liquidation. South Africa’s banking sector remains dominated by white people, who control more than 90% of banking assets. 

This concentration of control has been one of the greatest stumbling blocks to the transformation of South Africa’s economy. While the banks exercise unfettered control over the lives of black people, they play an active role in preventing any form of economic transformation and black ownership. Ithala SOC Limited is one of the few financial institutions owned by black people and has been under consistent attack by the SARB. 

The SARB has demonstrated no interest in fostering transformation or ensuring the meaningful participation of black people in the economy as owners. Instead, it has shown intent to eliminate any form of ownership that does not align with the control of Stellenbosch-linked interests. They started with VBS, and now they have turned their sights on Ithala SOC Limited. The EFF is not surprised that the neoliberal grand coalition has folded its arms and allowed a financial institution owned by the state and the people of KwaZulu-Natal to face liquidation. 

The ANC is complicit in frustrating and preventing the transformation of South Africa’s economy and continues to fail in eradicating poverty, unemployment, and inequality. 

We are disturbed by the fact that the SARB consistently intervenes to save banks and financial institutions owned and controlled by white people, while being too quick to take harsh steps aimed at shutting down black-owned institutions. Despite black people holding no meaningful stake in the financial sector, the SARB’s punitive measures disproportionately target black-led financial institutions, something which they are not ashamed of and are ready to defend. 

The Minister of Finance, Enoch Godongwana, has failed to intervene and assist Ithala SOC Limited because he, too, lacks interest in driving transformation. The National Treasury, under the coalition of the DA and the ANC, has been relentless in reversing the limited transformation gains made over the past 30 years. The deliberate failure of the National Treasury and the KwaZulu-Natal Provincial Government to support Ithala SOC Limited in obtaining a banking license is yet another indication of the neoliberal government’s opposition to alternative financial institutions. Additionally, the National Treasury’s last-minute announcement that it will “protect depositors” is both disingenuous and hypocritical. 

This statement demonstrates that there is indeed capacity to intervene in the affairs of Ithala SOC Limited in a manner that protects depositors, but the National Treasury deliberately chose not to act until the bank was on the brink of collapse. This calculated delay shows that they hoped for Ithala’s failure, seizing this opportunity to dismantle one of the few black-owned financial institutions in South Africa. Their actions are nothing but a betrayal of the mandate to transform the financial sector. 

The EFF is extremely concerned about the impact the closure of Ithala SOC Limited will have on the elderly and working-class people in rural areas who relied on the bank to access their pensions and wages. The closure will increase the cost of accessing financial services for these vulnerable groups, while also making worse financial exclusion by leaving more people without access to banking facilities and financial services. 

This will deepen economic inequalities and further marginalise already vulnerable communities. Furthermore, the SARB has a legislative imperative to drive the transformation of the economy. The SARB possesses regulatory tools and instruments that could address the unsustainable concentration of capital and banking assets in the hands of a small minority—predominantly white men. Yet, the SARB has deliberately failed to use these tools to encourage equitable economic transformation. Instead, it actively protects the status quo, allowing the persistence of economic inequality and exclusion. 

The EFF unequivocally rejects the actions of the SARB, the National Treasury, and the ANC-led government. We demand immediate intervention to protect Ithala SOC Bank and call for the SARB to fulfil its legislative duty to transform South Africa’s financial sector to serve the interests of the majority, not just a privileged few. The long-term solution to the challenges facing South Africa’s financial sector lies in the establishment of state-owned banks with a clear mandate to drive the transformation of South Africa’s economy. 

These banks must prioritise the allocation of capital toward investments in productive sectors that create jobs, stimulate industrialisation, and promote inclusive economic growth. Additionally, state-owned banks should address the socio-economic challenges confronting South Africa, including financial exclusion, poverty, and inequality, by ensuring access to affordable financial services for marginalised communities. By operating with a developmental agenda, state-owned banks can play a pivotal role in building an equitable and resilient economy that serves the interests of the majority. 

STILFONTEIN MINES DISASTER @KASIBCNEWS 

The Economic Freedom Fighters (EFF) is deeply saddened and outraged by the devastating tragedy unfolding in Stilfontein, North West, where 216 illegal miners have been rescued, and 78 bodies have been retrieved following months of government negligence and a disregard for human life. 

This disaster is a grim reflection of the incompetence of law enforcement, the failure of intelligence services, and the dehumanisation of black and undocumented individuals in South Africa. Operation Vala Umgodi, launched by the government in December 2023, claimed to target illegal mining, but its execution in this instance was marked by brutality, a lack of foresight, and an inhumane disregard for human dignity. 

By cutting off food and water supplies to miners underground, the state effectively created conditions for a humanitarian catastrophe. Despite early warnings, including from the EFF, that this approach would lead to a massacre, the government dismissed these calls for reason and compassion. 

The court process leading to the eventual rescue operation exposes the government’s excuses and inaction. On November 21, 2023, mining-affected communities filed an urgent application with the Pretoria High Court to compel the government to provide humanitarian aid and initiate rescue operations. 

The application was dismissed, further entrenching the state’s indifference to the plight of the illegal miners. However, the persistence of human rights organisations, community leaders, and affected families led to further legal challenges. By December, an interim order permitting community members and charitable organisations to deliver food and water to the miners. When the government continued to fail in its duty to address the crisis, an urgent application was brought to the Pretoria High Court by a relative of one of the trapped miners. 

This led to a court order on January 12, 2024, mandating the government to deploy mining rescue services to assist miners underground. The court’s ruling made it clear that the rescue operation, initially dismissed as impossible, was in fact feasible with the proper resources and political will. The successful rescue of 216 miners and the retrieval of 78 bodies highlight that the tragedy was avoidable had the government taken timely and humane action. 

The court’s intervention proves that alternative approaches—those that respect human rights and involve community engagement—can and should have been employed from the outset. Instead, the government’s refusal to act earlier resulted in unnecessary suffering and loss of life, even after young boys—trafficked and abused in these mines—resurfaced. This dismissive and violent approach is disturbingly reminiscent of apartheid-era tactics, where black lives were considered expendable. 

The treatment of illegal miners, many of whom are foreign nationals, reflects the same dehumanisation seen during the Marikana massacre and countless other instances when black people have risen in protest or desperation. The government’s actions reinforce a narrative that certain lives are worth less, a stance the EFF vehemently rejects. 

The EFF condemns the government’s refusal to collaborate with local communities, whose insights could have prevented this tragedy. It is unacceptable that intelligence services had no knowledge of the number of miners trapped underground or the dire conditions they faced. The lives lost and ruined in Stilfontein are a direct consequence of this failure to engage with communities and address the crisis through lawful, humane, and effective means. 

We reiterate that mining companies must be held accountable for their role in this crisis. It is their legal responsibility to properly close disused mines, ensuring they do not become death traps or hubs for parallel economies. The presence of a parallel mining market is undeniable—gold extracted from these operations is being processed and sold, yet no investigations have uncovered the culprits or disrupted the illegal supply chain. This failure to act demonstrates a complicity by political actors that cannot be ignored. As rescue operations continue, we call for immediate accountability from those responsible for this disaster. 

We demand a comprehensive investigation into the operations of parallel mining markets and decisive action against mining companies that fail to rehabilitate abandoned mines. Furthermore, the government must adopt a humane and community-centred approach to addressing illegal mining, ensuring that the lives and dignity of all people, regardless of their legal status or nationality, are respected. 

The EFF extends its deepest condolences to the families of those who have lost their lives and stands in solidarity with the survivors. The tragedy in Stilfontein must serve as a turning point—a moment when South Africa finally confronts the systemic injustices that dehumanise black and undocumented people and perpetuate cycles of violence and neglect. 

LIMPOPO CLINIC REOPEN @KASIBCNEWS

LIMPOPO CLINIC REOPEN @KASIBCNEWS 

The Limpopo Department of Health announces today that the decision to reopen the Chuene Clinic, which was previously set to resume operations following a four-day closure, has been rescinded. The clinic will remain closed indefinitely until further notice.

This decision follows a thorough reassessment of the impact that the devastating incidents, including break-ins, robbery, abduction, and sexual assault of the nursing staff, have had on the affected personnel. After careful consideration of the emotional and psychological toll these traumatic events have had on the staff, as well as taking heed of their legitimate safety concerns, the department believes it is in the best interest of both healthcare workers and the community to temporarily halt the clinic’s operations.

We acknowledge and deeply regret the trauma that the healthcare workers at Chuene Clinic have experienced. The safety, well-being, and mental health of our healthcare professionals are of utmost importance, and their concerns must be addressed before any resumption of services can take place.

The department is committed to improving security measures at all healthcare facilities across the province to ensure that our healthcare workers can perform their duties without fear for their safety. The department will work closely with relevant stakeholders, including law enforcement and community leaders, to ensure that adequate protections are in place at the clinic before it is reopened.

In the meantime, community members are advised to continue seeking healthcare services at nearby facilities, including Maja, Soetfontein, and Block B until the situation at Chuene Clinic is resolved.

The department thanks the public for their understanding and continued support in ensuring a safe and secure environment for our healthcare workers.

CEDERBERG GOVERNMENT OF LOCAL UNITY @KASIBCNEWS

CEDERBERG GOVERNMENT OF LOCAL UNITY @KASIBCNEWS

The Democratic Alliance (DA) expresses deep disappointment in the recent decision by the Cederberg Eerste Residents Association (CE) to form a so-called “Government of Local Unity” with the ANC in the Cederberg Municipality. This is nothing more than a coalition between Cederberg Eerste and the ANC.

It is obvious that the CE chose teaming up with the ANC over facing accountability. Again, it shows that by voting for smaller parties, voters are not sure where or to who their votes are going to.

While the DA acknowledges the challenges faced in the municipality, we firmly believe this new coalition with the ANC is a major threat to open, honest and transparent service delivery to Cederberg residents. This political ploy is a guise to place greedy, power-hungry politicians’ needs above the interests and well-being of the local residents.

The DA will continue to deliver for its voters whether in opposition or in government. We will also hold whoever governs Cederberg accountable and we’ll drive issues that serve the residents of Cederberg.

MATLOSANA WATER CRISES @KASIBCNEWS

The DA in Matlosana calls for urgent action as water services break down, leaving residents without reliable water supply. For four consecutive days, water repair interruptions have affected the community while repair teams remain crippled by a severe lack of vehicles.

In Ward 39 alone, more than 100 unresolved water-related issues have been reported. These include leaking pressure-reducing valves (PRVs) and faulty water meters, which continue to inflate residents' accounts unfairly and add to the destruction of the infrastructure around the leaks. The lack of operational resources has left the community questioning the municipality’s commitment to basic service delivery.

The depth of the crisis was exposed during a routine Council meeting in 2024, where it was revealed by a fellow DA councillor to the MMC of Infrastructure that Klerksdorp's five water teams share only one functioning vehicle, this appeared to be news to the MMC. The lack of transportation means only the most severe emergencies are addressed, leaving routine maintenance and minor but critical repairs unattended.

Mismanagement of Fleet control is the root cause. By November 2024, 53% of the water team’s vehicles were stuck in the maintenance workshop due to repairs delayed by non-payment. As of January 2025, the situation has worsened— 100% of Klerksdorp and Jouberton teams' vehicles are now out of commission, again due to non-payment.

DA Matlosana is calling on municipal leadership, MMC, and Directors to address this growing crisis urgently. The community demands accountability and immediate action to restore the basic services that every citizen has a right to expect.

CEASEFIRE HAMAS AND ISREAL #KASIBCNEWS

CEASEFIRE HAMAS AND ISREAL #KASIBCNEWS

 

South Africa welcomes the ceasefire agreement reached between Israel and Hamas after 15 months of Israel’s genocidal onslaught on Gaza after Hamas and other armed groups launched an attack on Israel.

South Africa calls for the implementation of a just and lasting peace that ensures the human rights of both Palestinians and Israelis are protected and promoted. The ceasefire agreement is a crucial first step toward ending the severe humanitarian crisis faced by the 2.3 million Palestinians in the Gaza Strip, which the International Court of Justice (ICJ) has deemed to be plausibly genocidal.

The ceasefire must lay the basis for a just peace which should include the establishment of a contiguous, independent, and viable Palestinian state. Palestinian sovereignty and territorial integrity must be upheld. It is imperative that no land is annexed in either Gaza or the West Bank following the ceasefire, and that illegal settlement expansion is halted.

In accordance with the successive rulings of the ICJ, the provisional measures prescribed by the ICJ must be adhered to by the occupying power. International law and humanitarian law must be respected and upheld.

Immediate and massive humanitarian aid is urgently needed to provide relief to civilians in Gaza. All obstacles to the delivery of humanitarian aid must be lifted immediately and unconditionally, allowing civilians unrestricted access to essential food, water, shelter, and healthcare.

MINISTER OF FINANCE, PRE-WEF BREAKFAST BRIEFING SESSION @KASIBCNEWS

MINISTER OF FINANCE,PRE-WEF BREAKFAST BRIEFING SESSION @KASIBCNEWS

1. Introduction

Good morning, distinguished guests, colleagues in Cabinet, and partners in business. It is a privilege to welcome you to the Pre-WEF Breakfast Briefing Session. This gathering underscores the importance of collaboration between business and government as we prepare to present South Africa’s story on the global stage.

The WEF Annual Meeting brings together a wide array of key global stakeholders. These audiences are keen to understand the opportunities and challenges facing South Africa. It is essential that we align our key messages to showcase our country’s strengths, address misconceptions, and advance our collective priorities. By presenting a unified message, we can enhance South Africa’s standing and influence in the global community.

2. WEF Theme

This year’s WEF theme, Collaboration in the Intelligent Age, speaks directly to the era we are entering, one defined by transformative technologies and interconnected challenges. For South Africa, this theme resonates deeply. Collaboration is the foundation upon which we can harness innovation to address our economic and social challenges, while ensuring that technological advancements are inclusive and equitable. Minister Malatsi will delve further into this theme, exploring its implications for our nation and how we can leverage it to drive growth and prosperity.

OPENING ADDRESS BY THE MINISTER OF FINANCE, MR ENOCH GODONGWANA, AT THE PRE-WEF BREAKFAST BRIEFING SESSION 16 January 2025

G20 Presidency

This year’s WEF is particularly significant for South Africa. For the first time in many years, the President of the Republic, His Excellency Cyril Ramaphosa, will lead the South African delegation. This presents a golden opportunity to not only strengthen South Africa’s visibility on the world stage, but to also profile our G20 Presidency.

Under the theme of Solidarity, Equality, and Sustainability, our G20 Presidency reflects the essence of South Africa’s vision for global leadership.

• Solidarity emphasises the power of unity and mutual support, recognising that our interconnected world requires cooperative solutions to shared challenges. • Equality focuses on creating fair opportunities for all and addressing systemic disparities, ensuring that no one is left behind in our pursuit of global development. • Sustainability reminds us of the need to balance economic growth with social inclusion and environmental stewardship, ensuring a brighter future for generations to come.

Domestic Economy

Turning to the state of the South African economy, we acknowledge the challenges we face. The third quarter contraction, combined with the slight downward revision of the second quarter GDP, resulted in modest growth of 0.4% over the first three quarters of 2024. This was below the projections included in the 2024 MTBPS macroeconomic forecast.

However, we remain cautiously optimistic. There are significant upside risks to growth in the final quarter, including faster-than-anticipated easing of inflationary pressures, improved electricity reliability, and the stimulus effect of the withdrawals of the two-pot retirement system. While the road ahead is challenging, these positive indicators provide a foundation for stronger growth in 2025 and beyond.

Government of National Unity

In the political arena, South Africa’s Government of National Unity (GNU) has demonstrated its potential to unite the nation and foster progress. This era of governance has allowed for meaningful discussions on accelerating structural reforms. The positive reception from both the markets and the public has created a conducive environment for the GNU to deliver on its commitments and build an investment-friendly environment.

Conclusion

In conclusion, as we prepare to represent South Africa in Davos, let us remember the strength that lies in collaboration. Together, government and business can drive the messages that matter most, which are those of resilience, opportunity, and shared prosperity.

Thank you for your commitment to this mission. I look forward to our productive discussions today and to working with all of you to ensure South Africa’s success on the global stage. Thank you.