If expropriation without compensation (EWC) becomes government policy, would banks expect South Africans to pay bonds on properties expropriated by the state?
The Institute of Race Relations (IRR) has launched an open letter campaign, asking prominent South African banks to clarify for their clients the implications of expropriation without compensation (EWC) becoming government policy and whether they will expect South Africans with bonds to continue to pay for their property in the event it gets expropriated.
We are asking banks for a straight answer to the question:
Would banks expect these South Africans to pay off bonds on properties that have been expropriated without compensation by the state? South Africans deserve an answer to this simple and important question.
Fill in the form here and IRR will, on your behalf, ask your bank what they are doing to protect your property from government encroachment.
With your support, we can hold the big corporations accountable and stop South Africans being sold out for the comfort of big business.
“Big corporations and institutions do not have the luxury of sitting on the fence or the right to sell out South Africans on something as important as EWC,” says Hermann Pretorius, IRR Campaigns Manager. “On behalf of all South Africans who are homeowners and the millions more who dream of becoming homeowners or business owners or farmers, the IRR will stand up for their right to own what they earn through their hard work.
“If banks want to retain the trust of South Africans, they need to come absolutely clean on what their clients can actually bank on. We will hold them to their word.”
Read the original article on The Institute of Race Relations
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