COSATU Welcomes National Assembly’s Adoption of Financial Sector Laws Amendment Bill

September 10, 2021

 COSATU welcomes National Assembly’s adoption of Financial Sector Laws Amendment Bill.  This is a critical, progressive, and long overdue amendment of our financial sector legislation. It will protect depositors and workers, government, the financial sector, and the economy from reckless behaviour in the banking sector.  When banks collapse it is workers, pensioners, and depositors whose monies are lost.  It is bank workers who are retrenched and see their pensions stolen.  It is the state which is forced to spend scarce resources propping up banks.   

 South Africa has felt this pain when the African Bank hovered on the verge of collapse.  Pensioners and workers are still reeling from the loss of their hard-earned savings when VBS was looted into the ground by shameless management, politicians, and their friends. 

 This Bill will further empower the Reserve Bank and government to hold banks accountable and to intervene when needed.  It will require the establishment of depositor insurance funds under the supervision of the Reserve Bank to ensure that workers, pensioners, and other depositors are provided with some cover.  This will help protect the public fiscus from having to bail out banks when resources are badly overstretched.

 When collapsed banks’ assets are disposed of it needs to be pensioners, the unemployed and workers who are first in line to receive the compensation due to them.  It is immoral for secured lenders, e.g., other banks and commercial lenders to be first to receive compensation.  Workers and pensioners cannot afford for their little payments to be delayed for months and years.  Neither can they afford to receive whatever funds remain once banks and other lenders have had their fill.

 The National Council of Provinces needs to begin its work and ensure Parliament concludes adopting this progressive Bill by the of 2021 so that it can come into effect in the beginning of 2022.For comment please contact:

Matthew Parks | Parliamentary Coordinator | Cell: 082 785 0687 | Email: matthew@cosatu.org.za



No comments

Thank you for reaching out to us. We are happy to receive your opinion and request. If you are need advert or sponsored post, We’re excited you’re considering advertising or sponsoring a post on our blog. Your support is what keeps us going. With the current trend, it’s very obvious content marketing is the way to go. Banner advertising and trying to get customers through Google Adwords may get you customers but it has been proven beyond doubt that Content Marketing has more lasting benefits.
We offer majorly two types of advertising:
1. Sponsored Posts: If you are really interested in publishing a sponsored post or a press release, video content, advertorial or any other kind of sponsored post, then you are at the right place.
WHAT KIND OF SPONSORED POSTS DO WE ACCEPT?
Generally, a sponsored post can be any of the following:
Press release
Advertorial
Video content
Article
Interview
This kind of post is usually written to promote you or your business. However, we do prefer posts that naturally flow with the site’s general content. This means we can also promote artists, songs, cosmetic products and things that you love of all products or services.
DURATION & BONUSES
Every sponsored article will remain live on the site as long as this website exists. The duration is indefinite! Again, we will share your post on our social media channels and our email subscribers too will get to read your article. You’re exposing your article to our: Twitter followers, Facebook fans and other social networks.

We will also try as much as possible to optimize your post for search engines as well.

Submission of Materials : Sponsored post should be well written in English language and all materials must be delivered via electronic medium. All sponsored posts must be delivered via electronic version, either on disk or e-mail on Microsoft Word unless otherwise noted.
PRICING
The price largely depends on if you’re writing the content or we’re to do that. But if your are writing the content, it is $60 per article.

2. Banner Advertising: We also offer banner advertising in various sizes and of course, our prices are flexible. you may choose to for the weekly rate or simply buy your desired number of impressions.

Technical Details And Pricing
Banner Size 300 X 250 pixels : Appears on the home page and below all pages on the site.
Banner Size 728 X 90 pixels: Appears on the top right Corner of the homepage and all pages on the site.
Large rectangle Banner Size (336x280) : Appears on the home page and below all pages on the site.
Small square (200x200) : Appears on the right side of the home page and all pages on the site.
Half page (300x600) : Appears on the right side of the home page and all pages on the site.
Portrait (300x1050) : Appears on the right side of the home page and all pages on the site.
Billboard (970x250) : Appears on the home page.

Submission of Materials : Banner ads can be in jpeg, jpg and gif format. All materials must be deliverd via electronic medium. All ads must be delivered via electronic version, either on disk or e-mail in the ordered pixel dimensions unless otherwise noted.
For advertising offers, send an email with your name,company, website, country and advert or sponsored post you want to appear on our website to omodjk(at)gmail(dot)com

Normally, we should respond within 48 hours.

Sponsored Partner's Advertisement