'Banks must invest in low-cost housing'

2012-07-12 15:53

Kwadlangezwa - Banks should be forced to invest in low-cost housing, SA Communist Party (SACP) general secretary Blade Nzimande said on Thursday.

The state should move from merely regulating to actively directing the private sector, he told delegates at the party's elective conference near Empangeni, KwaZulu-Natal.

Delivering his political report, Nzimande said the state had to direct the private sector towards developmental outcomes and objectives.

"Legislation must be made to force South African banks to invest in low-cost housing. It is after all the money of the working class."

Earlier, outgoing SA Communist Party chairperson Gwede Mantashe urged party members to join the African National Congress.

"Our ability to influence and advance our agenda will be determined by our immersion in the structures and programmes of our alliance partners," he said.

"The reality facing the party today... is that of communists who are not even members of the ANC."

Mantashe said there were several SACP members at national level who held top positions in the ANC and cabinet.

But there was a lack of "cross-pollination" between the two parties at a provincial level, with the exception of the Eastern Cape.

Mantashe said his decision to step down as party chairperson was not newsworthy.

"This (decision) is born of practical consideration that one is doing a disservice to the party by being an absentee chairperson."

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  • Thato Okonkwo Fakudze - 2012-07-12 16:04

    Let the welfare state keep on growing...

      pierrefrewd.juice - 2012-07-12 16:16

      dont quite understand how a private company would invest in something that is given away for free, then sold on to the wrong people by corrupt officials, and falls apart after a few months. if people were given proper houses that would last then maybe they would spend a larger portion on goods and services, but its unlikely. they will still just buy basic food and clothes. wont be able to pay for services in any event. there is no incentive here, and will just dump us into a bigger financial crisis.

      christelle.james.7 - 2012-07-12 16:22

      And the ones who keep on wanting to get rid of private sector, keeps begging private sector to get involved in growth. Private sector should also invest in government schools was asked a couple of days ago. Rich coming from communists. I wonder whether they have ever made calculations on how many houses could have been build with all the money stolen by public service officials.

      konstabel.koekemoer - 2012-07-12 16:41

      If the government directs the private sector then it isn't a private sector anymore. This is just more rubbish talk to try and fool the poor masses into believeing that the government will actually do something for them. Instead all this nonsense is discouraging long-term investment in SA which is inhibiting growth and job creation.

      gieljam.gomtor - 2012-07-12 16:51

      He would do his "Doctorate" a favor by making sound and economic uplifting statements . If the government cant fulfill their obligations to the people who voted them in ,he must concentrate on the reasons of their inability here are a few : incompetency ,excessive expenditure , corruption , nepotism ,favoritism and cadre employment.

      nicholas.graan - 2012-07-12 16:53

      A real communist! What does he mean "invest" in low cost housing? Investing is a business model .. can Blade explain how they would get a return on this "investment"?

      liana.loots - 2012-07-12 17:16

      Blade is gerook man!!! I am at a loss of 4 year old will reason like this

      juan.prinsloo.750 - 2012-07-12 18:02

      The entitlement syndrome, think blade should go study economics 101. Get that communist crap out of your brain you idiot, IT DOESN'T WORK!!!!!!!

  • NrGx - 2012-07-12 16:10

    Ok I get the point here, banks DO NEED to invest back into the public. The rip us off on a daily basis. BUT WHY are all these "ideas", "policies" etc, set only to benefit one portion of the demographics. Come now, think further than skin colour, economic "iwantit" freedom. Invest in rural farming, invest in education, invest in something that will benefit the communities further than a "free house". THINK PEOPLE....THINK!

      christelle.james.7 - 2012-07-12 16:39

      I just wonder what will happen when the private sector runs short of money our simply out of the country.. Where will they go begging for money then. As it is, the private sector is struggling more and more as our economy weakens and with the constant braindrain.

      gieljam.gomtor - 2012-07-12 16:45

      Nrgx, correction DO NOT NEED to invest back , but usually do as a good will and business gesture.

      NrGx - 2012-07-12 17:07

      Agieljam - the opposite is precisely my point. it SHOULD NOT be a good will / business gesture. As professional investors, they should seek the opportunity to invest (a good investment) in society. The only way this country will break away from "i want, i want and i want it free", is for people and banks to embrace micro loans, seeking to uplift the communities the anc clearly dont care about. This in turn changes the perception that propaganda has labeled the working class (middle & upper) as. The stigma will not be broken by digging our heels in, it hasnt worked for 18 years, it wont work now. THINK PEOPLE...THINK!

      gavin.hillyard - 2012-07-13 10:52

      No such thing as free anything. If you get it for nothing it may be free to you but someone else is paying for it

  • francois.smith.7 - 2012-07-12 16:12

    Let me get this again - it is the money of the working class? Are they the big savers or the big spenders? If they are savers, then they will be furious if banks go belly up for taking wrong risks. If they are spenders, then their money is not in the bank. If it is the real wage low wage earners that are struggling to get houses, then government should start acting on the SP's promise that they will support those who fall between the housing subsidy and affording the next level of homes. Blade, you are once again criticizing your buddies in government without knowing it, I am more and more of the opinion that you should have been Shaving Cream Nzimande as nothing you say is very sharp.

      liana.loots - 2012-07-12 17:42

      it seems they are panicking BIG TIME. the most insane and laughable comment

      gavin.hillyard - 2012-07-13 10:54

      Do we really need to bring logic and common-sense into the argument?

  • andrew.ferreirinha - 2012-07-12 16:12

    The successful infiltration of SACP into provincial government in the Eastern Cape must be the reason that the province is the most successful. It speaks for itself and is an advertisement for communism. I mean just look at its brilliant education and health departments. Don't all South Africans want to have provincial governments as efficient as the Eastern Cape's?

      Julio - 2012-07-12 18:12

      I couldn't have put it better myself. Good observation!

      gavin.hillyard - 2012-07-13 10:55

      Always good to rabbit on about other things - it deflects attention from your own shortcomings

  • mofstok - 2012-07-12 16:13

    Um, how about you go f*** yourself Blade. The money in the bank is the money of people who actually worked for it. How about you invest some of your lavish ministerial paycheck into low cost housing? Charity begins at home doesn't it? Blade, you are so mentally underdeveloped there will have to be a new category of retardation made-up specially for you.

      gavin.hillyard - 2012-07-13 10:56

      No need to be ruide though I agree with your sentiments

  • jimi.vanderwesthuizen - 2012-07-12 16:16

    How can you force someone to "invest". If it was such a great investment, the banks would do so voluntary. Everyone in the country pays taxes and get nothing in return, but if Blade and his cronies in government stop pissing out the tax money on luxury cars and corruption and "invest" in low cost housing then he can start asking other to invest.

  • The-Azanian - 2012-07-12 16:20

    why forcing our grim-ripper banks on seeing lucrative investments? The communist morons should focus on pressuring government to invest our timerz and ou-ladies pension fundz on this.

      christelle.james.7 - 2012-07-12 16:33

      Azanian - now when did you switch sides buddy? I remember you standing firm behind the funny party:-) Glad to see you are coming around.......

  • gerald.king.589 - 2012-07-12 16:21

    If you see the gap then establish a development bank. Otherwise force Investec to give everyone pearly private cards while you're at it, same thing.

  • altusvanzyl - 2012-07-12 16:22

    Voetsek Blade. Stop with all this crap you are talking. A communist party should be forced not to exist!! Ussr, cuba...

  • jan.human - 2012-07-12 16:30

    And we all will wear blue jeans, drive a black Mercedes, and get R300 at the end of the month... no matter what work we do....

  • jacques.pretorius.967 - 2012-07-12 16:35

    love the government, promise everything to everyone, to get votes. then when things don't work out (due to corruption, failed tender issues or just bad management)now it is up to someone else to bail them out.

  • michael.kleber.376 - 2012-07-12 16:39

    At the end of the day its the consumer who is going to pay through higher fees etc it will just be another form of taxation through the man on the street , instead of spending 2 billion on a new presidential jet and X5's for all govt officials just scale down and spend that money on the poor the govt is getting money they just spending it on the wrong things

      Jeffrey Mangz Longwe - 2012-07-12 17:13

      Ever since Mbeki with his economics knowledge left, or got kicked out and gave up hope on ANC, we've had to deal with these morons and their stupid uneducated ideas. We need to vote them out i've had enough of the stupidity.

  • james.m.turner.35 - 2012-07-12 16:41


  • selma.botha.9 - 2012-07-12 16:42

    As a member of BRICS tell the state-owned China International Trust and Investment Co.(CITIC)to build low cost housing as they have in Angola. "Built under three years at a reported cost of $3.5 bn, Kilamba was in an isolated spot some 30km outside Angola's capital, Luanda, and is a brand-new mixed residential development of 750 eight-storey apartment buildings, a dozen schools and more than 100 retail units".

      gavin.hillyard - 2012-07-13 11:00

      I don't think we want the Chinese in SA - they will want more back in return. We have to solve our own problems starting with getting ethical, honest, hard-working, intelligent people into government. May take a while though

  • mark.haupt.31 - 2012-07-12 16:51

    And you're going to force them how? By threatening to nationalize them, to burn them? No wonder you commies couldn't get it right, you're stupid!

  • andre.kuhn.583 - 2012-07-12 16:53

    What about a leaner government. Than we do not hear that much rubbish.

  • judith.taylor.56 - 2012-07-12 16:54

    It would be more useful if COSATU was directed to create jobs!

  • tertius.aswegen - 2012-07-12 16:56

    spoken like a true communist!

  • willie.dique - 2012-07-12 16:57

    What are you worried about houses?.....Worry about the education of the country!!!!! There are people in the ministry who is working on the housing problems they don't need the ministry of Education to advise them.

  • marcelle.joubertdurandt - 2012-07-12 17:00

    My only comment here would be " Heeltemal op sy kop geval" ....... Seriously?

  • Shaun McDermott - 2012-07-12 17:03

    Communist thinks with his trousers

  • michael.i.wright - 2012-07-12 17:05

    Yeah, because that worked so well in the US.

  • Shaun McDermott - 2012-07-12 17:05

    a true commie

  • Dawn Campbell Gibson - 2012-07-12 17:07

    what next. why not just force the banks to buy groceries for the townships too!

  • KCorsar - 2012-07-12 17:11

    Um aside from Government funding some of these projects who provides the initial funding? Really did it fall from heaven, oops sorry you are a communist and religion isnt favoured. Get real banks are owned by shareholders, they through their management structures decide where investment happens, not because the SACP / ANC / Government says they should. Loans require repayment, not a charitable gift. What a useless load of rhetoric........

  • trevor.bush.9655 - 2012-07-12 17:14

    Blade is rehashing the same old rubbish they did YEARS n YEARS ago and what happend, all just political banter to get voters, people on the ground saw nothing. As for Banks having the money of the working calse, it's idiots/racists like you in the SACP/ANC/COSATU that now has me opening a bank account offshore and keeping my money OUT of SA in the future so when you racists finally show your true colours and do what you are thinking,what Julius has been saying for years now, to those that are not black in SA, you can watch me flip you a birdy as we leave.

  • vivian.harris.73 - 2012-07-12 17:16

    \Legislation must be made to force South African banks to invest in low-cost housing. It is after all the money of the working class.\...Why can't the government be forced to invest as they are stealing and wasting the money of the working class. We don't pay taxes so the ANC can waste our money on parties and filling their pockets.....

  • steve.atherton.180 - 2012-07-12 17:18

    Seems I recall a similar exercise in the US quite recently..... the 'bonds' were then sold on at a discount..... nearly bankrupted most of the 1st world economies... seems our friends in the SACP don't get out much......

  • david.wolpert.39 - 2012-07-12 17:21

    Where do they find these guys? They are a dime a dozen in the ANC.

  • pat.aldrich.96 - 2012-07-12 17:22

    The type of rubbish you talk wben your brain is replaced by snot.

  • deon.vantonder.77 - 2012-07-12 17:24

    Yeah right, like municipalities, if the masses don't pay, write it off. There are other tax payers that they can retrieve the losses from by increasing the tax again. Think for yourselve, the low cost housing occupants refuse to pay and the bank through the "legal" constitution may not evict them, who end up paying for the bank losses? we the clients of the bank with inflated bank and interest charges. The majority blacks still adopt the principle that evrything is for free and that we owe them. When the nats was in charge the ANC had all the experts in how to run a country. Now they in charge and see what happens. They loot the coffers through corruption and greed and end up no one running the country. Let everyone pay for their own housing, it is the only way they would appreciate what they work for and stop striking at their workplace so that they can afford paying the morgage.

      Jeffrey Mangz Longwe - 2012-07-12 17:40

      Dude stop doing white people injustice and stop referring to 'blacks' YOU are exactly the reason the DA keeps losing, stop it.

      richard.zanner - 2012-07-12 17:45

      Deon, I understand what you are saying but I agree that the reference to white and black as stated by Mangz just creates a race divide again. If the population do not start standing together we are screwed.

      gavin.hillyard - 2012-07-13 11:07

      Yea we hsve to start thinking about ordinary people and get away from racial classification. I would suggest that most people just want to get on with their lives and make the place better for their kids and grandchildren. We all want the same thing. If we disagree on how to get there let's debate without racial reference or name calling Remember if I disagree with you, mine is after all only one opinion

  • Jeffrey Mangz Longwe - 2012-07-12 17:27

    Minister of higher education talking such rubbish, i have no choice but to give up

  • richard.zanner - 2012-07-12 17:38

    How is it the money of the working class. Surely it is the money of every person that puts his money in the bank in the hope to earn some interest. TO me one thing is clear and that is that the Government has lost the plot, they have lost all control and have no idea how to fix it so every day we see some other brainless idea. The truth is that there is simply no more direction from the leaders (if that is what they think they are) and all they know is that after all the money and infrastructure has been stolen, corrupted and wasted there is nothing left to meet the promises they have made to the working class and to retain their votes they are running around like headless chickens trying to find the next honey pot. They have simply not understood that you cannot take a few fish and some bread and break it up to feed everybody forever. According to the bible only Jesus could do that (with no intent to discuss religion here)but I just shake my head and when I read all the comments on ?News 24 on all these issues one gets the view very quickly that the bulk of the Nation understands these issues and one can only ask why the "leaders" do not get it. If the thinking process of the ruling party (whoever they may be) does not start getting this we are all doomed but sadly so, so are the very people that placed their hopes and trust in these "leaders".

      gavin.hillyard - 2012-07-13 11:13

      The leaders do get it Richard but they choose to espouse their populist rhetoric to stay in power - the ANC big pow wow is coming up in a few months time remember? Even Zuma is starting to make anti minority statements. All these guys have got is long memories regarding the "struggle" and blaming their organizational and planning shortcomings on others. We need someone of vision and courage to reverse the current downward spiral in all spheres of endevour.

  • markvdm - 2012-07-12 17:39

    Oh for goodness sake can't keep hiking taxes and then expect all other people and institutions to pay for things you commie.

  • Jonty Wattrus - 2012-07-12 17:41

    U must force - well how can u force any company to do something!! Amazing telling housing what they need to do when education is a mess mmmmmmmm interesting??

  • Philip Buys - 2012-07-12 17:50

    The Sacp, is trying to be like Chuck Norris. There would have been no Credit crisis if they packaged those loans............... There would be no poverty, if you can just print enough money to give to everybody...............Wake up idiots, there is nothing like a free lunch.

  • alf.pop - 2012-07-12 18:01

    How many Blue Labels did you have when you came up with that pearl of wisdom, bra Blade?

  • Julio - 2012-07-12 18:07

    It is because of idiotic politicians like this one, who keep on punting unworkable policies that have never been tested with any success, that Africa keeps going backwards fast. God help us! Why doesn't the SACP go it alone to see how far they will get without tagging along with the ANC. God save us from these idiots.

  • steve.werner.334 - 2012-07-12 21:08

    The Government and the banking sector signed a "record of understanding" in 1994 whereby the banks would assist inter alia to provide loans for low cost housing. NOTHING happened since.Once again it was point scoring and brown nosing. Nothing will change

  • antin.herinck - 2012-07-13 11:19

    Blade, the dullest edge in the drawer went and looked into how to make governance of SA a bit more desperate. He saw that his commie brethren did not offer a solution. He saw that his ANC comrades only allowed the evil whites capitalist to make the unemployable more and more hopeless. He saw that the unemployable were gatvol of being promised the houses that they would never get. He saw that BEE, tenderpreneuring, ANC-misrule and other useful tools for white counterrevolutionary forces, were stopping his ideal of "a house, a stove and a fridge for all" was impossible to achieve by current well meant ANC-methods. He saw that this would cost his beloved ANC votes. (Not to mention his cushy job and his cushy BMW.) And then, when he was ready to gooi one of his many unopened credit card statements in his stuffed drawer, a light went up on seeing the bank's logo. He thought:"Hey, these banks have LOTS of money! THEY must provide the houses, the stoves and the fridges" And thus another Brilliant Report was conceived. Viva Comrade Blade, VIVA!

  • gavin.hillyard - 2012-07-13 11:20

    Bottom line is that the money the banks "have" does not belong to them. It belongs to the millions of depositors. Banks should not invest in anything else than sound ventures. Low cost housing is not a venture that promises a good return. However if the masses expectations are to be met, it is clear that someone of vision and courage needs to take control and reverse the current downward spiral. I wonder if we have such a person. Certainly not our clueless PM

  • gavin.hillyard - 2012-07-13 11:24

    Seems to me that the cross-pollination of the SACP and the ANC has not done much good in the E Cape. Let's hope there is none of it in the rest of the country

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