Fin24

Zulu king wants rural development bank

2012-05-02 16:46

Pietermaritzburg - Zulu king Goodwill Zwelithini called on Wednesday for the establishment of a development bank to serve rural communities, which he said were often neglected by the major banks.

"Rural communities are not catered for in the current environment by the banking sector, and such a bank will help in attending to this," the king told delegates at the launch of the Ingonyama Rural Development Forum in Pietermaritzburg.

The forum is regarded as a key structure which will help in rolling out development in rural areas of KwaZulu-Natal. About 40% of the land in the province falls under Ingonyama Trust, with the king as the custodian.

Although KwaZulu-Natal had Ithala, which is a development bank owned by the provincial government, he said many people struggled to get help from it.

The envisaged development bank would take a cooperative form and illustrate how communities were able to sustain themselves.

"Some will recall that rural communities used to build schools and other centres by pooling their resources together, because their areas were neglected under apartheid," he said in outlining the vision of the bank and how it could operate.

Zwelithini cited other countries such as Botswana, where important centres were established by rural communities which set up savings schemes and banks.

“It is because of past results in other countries that I am convinced that such a bank will help in meeting (the) needs of poor rural communities,” he said.

He challenged amakhosi (traditional leaders) to play a leading role in development, saying through the forum they would dispel the misconception that they were against development.

The king emphasised the need for closer cooperation between traditional leaders and elected public representatives in government in driving development in the province.

Comments
  • Pule - 2012-05-02 17:44

    Zulu king go to hell with Zuma and your bank

  • Andile - 2012-05-02 17:49

    BAYETHE!! Wena weNdlovu!!Absolutely right the King BUT (Capital letters), that will create debts amongst the people that you lead. More than 70%(thumb sucked figure) of people who used to reside in rural areas are now found in the major cities. Repaying a loan from that rural bank can not be achieved by family farming, commercial farming is not viable in every farm or plaas. We have seen from current projects where tractors were donated how people dismally failed to make use of them (productive wise). And I can't shy away from politics since the bank will be for rural dwellers of KZN, the bank will be politically hijacked hence serving only a few. The next thing it will need financing from the government. In rural areas there are still some people who refuse to go to school, everything changes nowadays (weather, breeding patterns, cross breeds, etc). Rather the King encourage its people who have gotten education not to forsake their rural homes, they should go back there and invest capital, their skills, etc.

      Wally - 2012-05-04 19:04

      Well said, Andile. Also, the banks are more and more exploring moving into rural areas. I see this as I work in and around rural areas. It is pathetic to read that he refers to apartheid. Yes, it was bad; no denying that. What happened to these areas since? The schools are not developed; the schools themselves don't take responsibility in creating neat and viable environments and infrastructure, finding ways of raising funds and sponsors. That is just one aspect. On the home page today there is a pic uploaded of a person who lives in a "shack" with a BMW 6-series(?) under the carport. Amplifies what you are saying. The politicians and trad leaders will focus on the poverty, yet, many of these ppl in the "shacks" earn decent salaries and/or have land allocated to them in tribal rural SA. What happened to the Development Banks that existed? I think you already responded to that in part.

  • Louis Fouis - 2012-05-02 17:52

    Always apartheid to blame why is Itaha not functional

  • Msika - 2012-05-02 17:57

    What do you know zulu king...just focus in your wives and kettles.

      ziphok1 - 2012-05-02 19:24

      But we haven't heard any best suggestion from you Msika.

  • Clayton Richard Delport - 2012-05-02 18:06

    Good idea time for infrastructure, first banks though? But none the less hat off to him. Now let's see more development, the people are there so bring modernization so we all benefit.

  • Jonny Lee - 2012-05-02 18:18

    Have you seen a primative zulu driving top of the range car and an ipad? having best of both worlds, plenty wifes, but want new world stuff? hahaha

  • Raymond - 2012-05-02 18:21

    We invested in a retirement policy for our maid - she has worked hard and well for us. Lo and behold she had to give half of it to her local chief whom we didn't know from a bar of soap! Banking and finance is an intricate business and so far what we have seen since democracy is quite horrendous. How will these rural banks ensure 100% safety to it's rural customers when their own "fat cats" continue to plunder. I wonder whether it is actually safer to spend rather than try to save! The banks get richer but ordinary people continue to get poorer.

  • Jonny Lee - 2012-05-02 19:51

    He wants his private ATM next to his shack!

      ziphok1 - 2012-05-03 08:13

      Jonney, the King is talking about the rural 'DEVELOPMENT' bank.

  • Lesley - 2012-05-02 21:03

    He is looking for more money to get his greedy paws on.

  • Jacques - 2012-05-03 00:10

    Zulu king? Wow. Imagine doing an ELT (electronic livestock transfer)!

  • Jan - 2012-05-03 11:07

    With the greatest dignity, the traditional leaders have done nothing for a long time. The are paid by taxpayers that do not share their culture. 22 million people reside on communal land - nearly half the population, with high birth rates and no job creation, these lands are the poverty factory of SA. Most of the poverty question can be addressed by giving ownership to the occupiers, who can then borrow against the land and start ventures, or on-sell the land to form productive commercial units. The ANC buys the traditional leaders off before every election, with new 4 by 4's. That is why the ANC keeps them there and that is how the ANC causes the poverty of their own people.

  • Trevor - 2012-05-03 12:18

    Develep mental banck, ha ha ha ha ha ha ha I don't even know any more how to spell it. Maybe the chief needs to develop his brain first ha ha ha ha ha

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