ActionSA is planning to escalate WesBank’s alleged racism to the Prudential Authority after the South African Human Rights Commission (SAHRC) turned a blind eye.
The party wrote to the commission in January, requesting that the alleged unfair discriminatory practices at WesBank be investigated.
This comes after a former IT consultant at the bank made damning allegations about the vehicle financer. He alleged that WesBank was overcharging black clients on interest rates for vehicle and personal loans.
Samkelo Mgobozi, ActionSA’s communications director, said the SAHRC has since declined to launch an investigation.
SAHRC declined to probe media reports claims
ActionSA then approached the Prudential Authority for an investigation and gathering evidence. The evidence would then be furnished to the SAHRC to determine if any human rights were violated.
“At the time when we asked the SAHRC to investigate, they declined on the basis that there was no prima facie evidence. [The commission said] the claims were made in the news media,” said Mgobozi.
“It is unfortunate, given that a preliminary investigation would’ve yielded such evidence if there was any to find. And they could have made their decision to pursue a fuller investigation on that basis,” he added.
Prudential Authority’s mandate
Lerato Ngobeni, Parliamentary Caucus Chief Whip, explained the Prudential Authority’s mandate. She said it served as a designated body meant to supervise financial institutions. As such, it should zoom into the racism matters involving the bank, she said.
“Principally, ActionSA believes that if proven true, the discriminatory and unethical conduct alleged demands accountability from the implicated institution. Not only to provide restitution, but also to protect South Africans from further conduct by institutions that undermines our constitutional provisions.
“The Financial Sector Regulation Act delegated oversight responsibilities to the Prudential Authority. It provides for the protection and promotion of rights in the financial sector as outlined in the Constitution,” said Ngobeni.
For this reason, she said, the matter falls within the authority’s jurisdiction and should be investigated.
Ngobeni said the investigation will be able to go through all allegations. It will also ensure that justice and accountability are delivered as they should.
