Comrade
The coming together of saambou allied bank & volks kas bank etc in various combinations has ultimately resulted in four banks in South Africa consolidating their hold in the finance sector. The result is that they have constituted monopolies that have perpetuated a situation where many working people remained unbanked until recently when we struggled for Umzansi Account, its just impossible in South Africa for communities to access capital whilst the financial sector invest lavishly in malls and extravagant suburbs not creating low cost quality housing for the poor. What this shows that when businesses come together its more about profits then efficiencies this is where the difference is because NYDA is about improving service delivery not profits. Its about creating strong state institutions to support service delivery. We have state institutions such as NYDA coming into existence today to rollout and fund community and youth initiatives amongst others because capital has consolidated and remained anti youth, anti real development and pro bourgoesie (Not surprisingly) since 1994. I just thought in expounding a wholly correct perspective how we reach the conclusion must not undermine our understanding of what the Communist Manifeso say about capitalist oligarchies and our own experiences of such Mxolisi --- Sent from UnionMail Service [http://mail.union.org.za] --~--~---------~--~----~------------~-------~--~----~ You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . -~----------~----~----~----~------~----~------~--~---
