ANCYL Confronts Standard bank on “ANC Splits if NDZ become President” remarks

STANDARD Bank has just taken a U-Turn to calm down the storm over its report which claims to an unstable future for the ANC party if Nkosazana Dlamini Zuma takes over as their President. Moreover, it  is earlier reported by a news website The New Age, on Monday, that the bank’s report named ‘The Prospects’ for and implications of an NDZ Win, predicted a split in ANC faction if Dlamini Zuma becomes president. Though the bank further stated that its report was not meant to confirm Dlamini Zuma’s selection or the implications out of it, it was however focused towards pushing the fact that her selection would “preserve” President Jacob Zuma’s influence on the state.

Nkosazana Dlamini Zuma

As per the official statement by the bank,”This research report analyses the potential effects, from a political and economic perspective, of what one scenario may be next month. This report is independent and impartial with the insights and analysis for information purposes only. The views expressed in the report are not necessarily that of Standard Bank. Knowing this, an outright NDZ leadership collective would, we expect, seek to deploy largely populist means through which to reduce the threat of urban voter rejection in 2019, including through the elevation of public sector remuneration; support for free education at the tertiary level. This would of course create additional budgetary pressures, which would further undermine the already compromised fiscal position”.

“Knowing the above, we have recently surmised that senior ANC officials, even including President Jacob Zuma and Mabuza, prefer some form of succession compromise to soften the effects of a potentially seismic post-December disruption should a winner-take-all process prevail”, the bank added further. However, this didn’t go good with ANCYL president Collen Maine who confirmed that while the ANC’s national executive committee meeting at the weekend resolved to nominate and submit the names of Dlamini Zuma and Mabuza as ANC president and deputy president to the party’s “electoral agency”, he blamed Standard bank to create unnecessary dispute amongst the party members in their internal matter.

He further states that “White monopoly capital has just decided to enter into the politics of the ANC by de-campaigning Nkosazana Dlamini and what she represents. We represent radical economic transformation and this is what they don’t want. They are doing everything in their power to discredit it. But we are not surprised that they would go to that extent. We are not worried, we are not deterred, and we will not allow ourselves to be de-focused. The league’s top six nominations for the party’s officials remained unchanged, and the league would nominate its preferred second deputy secretary-general at the conference as the party had yet to make a constitutional amendment on the matter. We have proposed a position for second deputy secretary-general but there’s no provision for that in the ANC constitution. We’ll nominate in the congress after the constitutional amendment at the conference”