Andile Mngxitama defends Zuma’s use of ‘WMC-owned’ Capitec Bank

Image credit: Twitter/@TotoGeza

Black First Land First (BLF) leader Andile Mngxitama has defended former President Jacob Zuma after pictures emerged on social media showing him at a Capitec Bank branch.

Twitter user @TotoGeza shared the images on Wednesday showing Zuma posing with Dudu Myeni, the chairperson of the Jacob Zuma Foundation, and a Capitec Bank consultant.

It’s unclear when and at which branch the photos were taken, and whether Zuma was opening an account or not.

‘Owned by white monopoly capital’

Some social media users expressed surprise that Zuma was apparently using a bank owned by “white monopoly capital (WMC).”

This is because Zuma is known as an ardent proponent of “radical economic transformation” (RET), which sees “WMC” as its main “enemy.”

However, in an article on his blog Black Opinion on Wednesday, Mngxitama dismissed Zuma’s critics as “loud ignorant trolls.”

He wrote, “The people ridiculing Zuma don’t know that actually, the entire banking system in South Africa is controlled by WMC.”

‘Owners of the economy’

Mngxitama added, “When we say WMC, we are talking about the owners of the economy of South Africa – from toothpaste to sunlight soap.

“In fact, people don’t know that even VBS Mutual Bank had no license. It was underwritten by ABSA.

“So those who say that Zuma must not open a Capitec account because it’s a WMC bank, do so because they don’t know that the bread and eggs they eat every morning is produced by WMC.”

The BLF leader claimed Zuma was “removed” as President in February 2018 because he had sought to establish a “black bank” and to transform the mineral and energy sectors.

He concluded, “So please, before you troll Zuma for opening a Capitec account, know what WMC is.

“And remember how some of your leaders removed him from office for fighting to end the evil WMC stranglehold around our necks.”

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