FROM THE OFFICE OF THE CHIEF EXECUTIVE OFFICER
PRESS RELEASE


TO: PRINT AND ELECTRONIC MEDIA HOUSES
FROM: KGANKI MATABANE
DATE: 11 MARCH 2019

SUBJECT: The Black Business Council (BBC) to meet with the Banking Association of South Africa and other stakeholders over the alleged discrimination of black clients by FNB and other banks.

The Black Business Council (BBC) held a successful two-day summit themed “Economic Transformation within the context of the 4th Industrial Revolution – A Catalyst for Inclusive Growth in the South African Economy”. The summit culminated in a gala dinner addressed by President Cyril Ramaphosa.

The BBC will also keenly follow the developments at the Western Cape Equality Court in order to determine an appropriate cause of action.

“We take any allegation of discrimination against black people extremely serious as we advocate for black people to play a meaningful role in the mainstream economy. As such, we will support any action that endeavour to end discrimination in the country. Such practices further strengthen the case for having banks that are majority owned and controlled by black people to ensure black people and businesses are not victims of arbitrary discriminatory and exclusionary practices” Said Sandile Zungu, the BBC President

ENDS
About the Black Business Council

The Black Business Council (BBC) is the over-arching confederation that represents black professional, business associations and chambers. The primary purpose of the BBC is to lobby government on policy related matters and to play an advocacy role where policies are in place in order to accelerate the participation of black business in the mainstream economy.