Sekunjalo victory brings hope to the poor

AS THE Youth Business Chain in South Africa we hereby congratulate Sekunjalo in general, and Dr Iqbal Survé in particular, for having obtained a major victory, also for the ordinary citizens in this country who had to suffer the same fate in the past.

This victory against the banks following the Competition Tribunal’s ruling is also a sign that there is relief for the ordinary citizen who had to suffer the same outrage in the past, but did not have the means to fight the behemoths of the banks with their high-powered lawyers and their deep pockets. This is a first in the history of South Africa in curtailing the powers of the banks who are the real power behind the scenes. This is all the more significant as it means victory for the ordinary man in the street who otherwise would not have had the means to fight back.

This strategic victory will prevent the banks from pulling this stunt in future and thinking that they can continue to make arbitrary decisions with no fear of any negative consequences.

At last the countless ordinary people who have been abused by the banks individually can now seek relief in this victory as such arbitrary decisions made fearlessly in the past by the big banks are no more, thanks to Dr Survé.

Dr Survé has demonstrated to the public his extraordinary concern as he knew the hardships which befall ordinary people who cannot fight back when their accounts are closed willy-nilly.

We are sure the public will appreciate him standing up for their rights and scoring a victory that will ensure that such reckless and bullying tactics do not carry on. Ordinary people need to know they have someone in their corner.

MICHAEL MAYALO | Youth Business Chain executive chairman