- The National Assembly’s acting Speaker, Solomon Tsenoli, denied the African Transformation Movement’s bid to debate the rand manipulation saga in Parliament
- The ATM’s leader, Vuyo Zungula, revealed that the ATM will continue fighting until action is taken against the banks
- Netizens threw their weight behind him and shared how they lost homes and assets allegedly because of currency manipulation
Tebogo Mokwena, an experienced Briefly News current affairs journalist, contributed political coverage to Daily Sun and Vutivi News during his seven years in South Africa.
Parliament’s acting speaker of the National Assembly, Solomon Tsenoli, turned down the African Transformation Movement’s request for Parliament to debate currency manipulation and banking misconduct.
The ATM’s president, Vuyo Zungula, requested that Parliament debate the matter and Tsenodi refused, claiming that it would be a premature debate. South Africans stood behind Zungula and called for the government to act against currency manipulation.
Parliament speaker denies debate request
Zungula posted the letter he received from Tsenoli, which turned down his request on his X account, @ZungulaVuyo. In the letter, Tsenoli reveals that Zungula’s matter requires further investigation and he is aware of legal proceedings surrounding the saga.
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Tsenoli added that it would be better to let the relevant oversight committee within Parliament take the matter forward before any debate may be pursued.
Zungula slams Parliament
Zungula slammed the letter he received from the National Assembly speaker. His caption read:
“Homes and cars were repossessed, people got depressed and some took their lives because of greedy banks. We will push for full transparency and accountability on the #RandManipulationIsTreason until the end!”
View the tweet here:
South Africans stan Zungula
Netizens support Zungula and demand justice against those accused of manipulating the rand.
“These banks know exactly what they did and will ensure they hide as much information as possible, especially the amount of money they made within that period.”
Revelations shared their story:
“We had to close our lodge and sell it for next to nothing. I lost my name and still paying for our car that fell behind on payment.”
Motho Wa Modimo revealed:
“The ANC has somehow benefited from this mess one way or the other. Their 2017 Nasrec conference was the most funded ever in the history of the ANC. They will mothball this.”
Cherry yam’iseRussia exclaimed:
“Banks need to be nationalised.”
Thugnificent praised him.
“I have seen you raise some important issues that affect the people on the ground in Parliament. You don’t just tweet. You raise the issues where you’re supposed to. We need people like you in Parliament.”
SA demands Reserve Bank and Lesetja Kganyago take accountability
Staying on the rand manipulation issue, Briefly News reported recently that South Africans demanded that the South African Reserve Bank and governor Lesetja Kganyago take accountability.
This was after Standard Chartered Bank was fined over R40 million after it admitted that it was involved in manipulating the rand. Before this, former finance Minister Tito Mboweni denied that rand manipulation occurred.
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Source: Briefly News