Hundreds of people who had their homes repossessed, and then sold for a fraction of their true value, await the start of a R60 billion class action.
‘Long overdue’: EFF throws weight behind homeowners pursuing R60 billion class action against big banks
Homeowners who lost their houses due to repossessions are seeking a R60 billion class action against major banks in South Africa. Collage: IOL The applicants, most of whom are poor and unable to recover their losses, have been living in destitution for over a decade, and are now seek damages from the banks.
The EFF reiterated that African people have been violently stripped of their land for generations by colonialism and apartheid, forced into cramped townships and locations, left without the dignity of space and ownership. She said the banks have long operated with impunity, shielded from any meaningful oversight due to the ANC’s collusion with white capital in South Africa's financial landscape.
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