ANC sees red over Absa ‘sidelining’ blacks

THE governing ANC has joined its youth league and Julius Malema’s EFF in taking potshots at banking giant Absa.

Party treasurer-general Zweli Mkhize told the Sunday Times that the governing party was concerned about allegations that the bank had sidelined black professionals and hired 500 British consultants in their place.

This comes a week after ANC Youth League president Collen Maine closed his Absa savings account, accusing the bank of being responsible for weakening the rand.

Malema, on the other hand, has accused the bank of failing to transform after two decades of democracy.

Both the youth league and the EFF are planning separate marches to the bank.

Mkhize said a number of black professionals within the bank had told him about how its transformation programme had regressed and that black professionals were being purged.

“The first issue that has been raised, which we have not been able to verify, is that there has been a lot of jobs lost. This issue would worry the ANC.

“The second issue has been the displacement of South African managers, particularly black managers. We have that kind of information, which we need to check and verify as to what has been happening there,” Mkhize said in a recent interview.

Mkhize also said the governing party had been made aware that, since the bank was bought by London-based Barclays PLC, a large number of Britons were now in its employ.

“The other issue that has been of concern is quite a number of jobs have been taken by managers who came from lower levels in the UK and were promoted to senior level [here], and that they were displacing local talent,” he said.

A senior manager within the bank said there was growing anger about the presence of British managers in the country.

“If you are a Brit, live in the UK and you have not grown within the bank and they don’t need you [in Britain], you get promoted to come work in South Africa,” said the manager, who declined to be identified for fear of being victimised.

The insider said black professionals had not occupied senior positions within Absa since the departure of Riah Phiyega, Happy Ntshingila and Kennedy Bungane.

Phiyega was the bank’s head of corporate affairs, and Ntshingila was executive director of marketing while Bungane was chief executive of Barclays’ Africa operations.

“The bank has regressed in terms of transformation. Blacks don’t hold positions of influence. They are only given fancy titles. The exco is lily-white,” said the insider.

Zintle Letlaka, a Barclays Africa spokeswoman, would not comment.

“As we were not part of the interview and discussion, it would be inappropriate for us to comment,” she said.

The bank has regressed in terms of transformation. Blacks don’t hold positions of influence. They are only given fancy titles. The exco is lily-white