These articles are delightfully frustrating to read. It's behind a paywall but I got the paper yesterday, as shit a read as it is. The headline is very compelling
Banks threatened over transformation laws
Followed by the sentence that we all want to read - Department of labour set to haul Standard Bank, FNB and Absa to court for non-compliance
You'd think that this useless anc government (and I don't say this in isolation here) would be figuring out how to fix up the country that they have destroyed over the last 30 years. Oh no, they have set their wolfhounds on the large corporates for their "failure to transform". One Fikiswa Mncanca-Bede, who has the exalted title of Director for statutory and advocacy services want to taken the three banks to court for their failure to transform. You can imagine how Nedbank and Investec are sitting in a corner and wondering when this useless department is going to come for them. Fikiswa certainly has a sense of humour - she says she is going to ask the court to impose a fine of R1.5m or 2% of turnover, whichever is greater.
There's the usual splutter of resistance to transform. We've given you 30 years and you resist. It's amazing this useless fucking government forgets to mention that its educational system is so dysfunctional that it can't produce people with the requisite education that makes the economy want to employ them. And even if they were employable the economy is so broken, due to anc greed and ineptitude that they can't employ these people.
And the banks. What do they say? "They are in talks with the department over the possible imposition of penalties."
What a fucking disappointment. It's time to stop negotiating. It's time to go to court. There is no ways the the department will win, especially if it hires mpofu to take on the case. We need business leadership here, not the stroking of egos. We need companies taking the government on and getting them to do their jobs. We can't depend on Afriforum or Sakeliga or Solidariteit.
You are negotiating with a rattlesnake. Forget it. Fight it, cyril (unfortunately now lowercase) doesn't have the ability to locate his manhood to get anything right.