ICTU backs Independent Media: We cannot allow our members to suffer because of the banks

Published Aug 19, 2022

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THE Information Communication Technology Union (ICTU) has expressed its support for Independent Media following Standard Bank’s threat to terminate the company’s banking services.

By Riyadh Karodia

ICTU’s deputy president Origenous Mogoatlhe and general secretary Vulture Ntuluki met with employees of Independent Media in Cape Town on Wednesday to discuss the union’s position on the matter.

In an interview with Independent Media, Mogoatlhe expressed his unflinching support for Independent Media and its employees following the decision of South Africa’s big banks to unbank Independent Media, Sekunjalo and other related companies.

“We are there to assist in whichever way we can,” said Mogoatlhe.

“We cannot allow our members to suffer.

“We cannot allow South Africans to suffer all because of the greed of one group … we cannot. It is wrong.”

Mogoatlhe expressed concern about the number of people set to lose their livelihoods in the event that Independent Media is forced to shut down if the company’s access to banking services is terminated.

Mogoatlhe also addressed the topic of black tax taking into consideration the history of black people in South Africa. “What black tax tells you is that this unbanking has some serious ripple effects. You’ve got more than 10 times the number of employees at Indy (Independent Media) that are going to be affected.” He emphasised that banks were aware of this situation.

On its website, Investec describes black tax as follows: “Black tax is a term for financial support that a professional or entrepreneur of colour is obliged to provide for their family on a continuous basis outside their own living expenses. Sometimes it is taken on subconsciously, as a kind of payback for sacrifices made by previous generations or family members.”

The closure of Independent Media would lead to the loss of employment for more than 1 400 people, whose dependents would also be affected. Mogoatlhe said workers are under siege and that it was time for trade unions to put on their war boots to save jobs.

“ICTU will never be scared. I know that banks can come in and say, ‘we are going to unbank you ICTU’ … come on, unbank us because that is your intention … but we will fight you. As long as we are within the parameters of law in this country, we will not be scared to go and fight everybody who comes against us and our people,” he said.

Mogoatlhe evinced his appreciation for Independent Media journalists, their work ethic and the stories they tell. “The reason why Independent Media is being fought like this is that they give you the perspective of both sides, and you get to see that the other side is being sugar-coated [by other publications].

“When you, as Indy journalists, bring the proper picture, they fight you,” Mogoatlhe said in a message of support to Independent Media employees. They want to cut out the proper picture of South Africa.”

Union members have previously expressed fears that the “unbanking” of Independent Media is a political ploy to separate the company from the Sekunjalo Group.

The union represents more than 2000 employees of the Independent Media group, including journalists.

Independent Media editors also penned a letter to Standard Bank’s top brass, urging them to reconsider their earlier decision.

However, Standard Bank only confirmed receipt and has not responded.