Banks Campaign Forum Launched 
Nedlac Summit on Financial Sector in November

17 September 2001

The NEDLAC Summit on the Transformation and Diversification of the Financial Sector will take place in November this year.

Today, organisations including the African National Congress (ANC), the South African Communist Party (SACP) and others representing unions, communities of faith, co-operatives, small business, women, youth, students and civics formally launched the Campaign Forum to Make Banks Serve the People. 

The aims and objectives of this broad Campaign Forum are:

• To campaign for the financial sector to play an appropriate role in economic growth and development
• To identify legislative and other policy reforms to transform and diversify the financial sector
• To mobilise the community and general public behind this Campaign and specifically the demands for the NEDLAC Summit
• To collect and table demands at the NEDLAC Summit.

Some of these demands include:

• legislation on community re-investment,prescribed assets and co-operative banks
• developing a public sector banking system
• the strengthening of the developmental role of public financial institutions such as the Development Bank of Southern Africa, Khula, Ntsika, the Land Bank, the Industrial Development Corporation and others
• Regulation of the Credit Bureaux and micro-lenders

The meeting also elected a Coordinating Committee which represents the sectors mentioned above. This Committee will be chaired by Blade Nzimande, SACP General Secretary. The Campaign invites all South Africans to mobilise and join this Campaign and contribute to the transformation and diversification of the financial sector.

CONTACT
Mazibuko Kanyiso Jara (surname Jara) Campaign to Make Banks Serve the People
Tel: 011 339 3621
Fax: 011 339 4244
Cell:083 651 0271
Email: bankscampaign@union.org.za