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Breaking: Cosatu to march on Absa headquarters

Story from: TownPress

JOHANNESBURG – Enca reports confirm Cosatu plans to march to Absa’s headquarters in Johannesburg on Thursday.

The trade union federation says the bank has been involved in controversial activities which are detrimental to the country.

It cites the Competition Commission case in which several banks — including Absa — are accused of price-fixing and market allocation in the trade of foreign currency.

Cosatu says these issues are a setback for the country.

It also highlights the over R2-billion bailout Absa received during the apartheid era.

The Public Protector has recommended the bank pay back that money.

In a statement, Cosatu said Absa symbolises what’s wrong with South Africa’s economic structure.

The post Breaking: Cosatu to march on Absa headquarters appeared first on TownPress.

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