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South African activists protest 'white monopoly capital'

South African activists protest 'white monopoly capital'

South Africa

Some 300 people from the Black First Land First party have demonstrated in Pretoria against “white monopoly capital”.

The group called for the transformation of South Africa’s economy in favour of blacks.

Wearing LAND or DEATH inscription T-shirts, they chanted protest songs and demanded for apartheid-era profits from the South African Reserve Bank.

“Our government has become powerless in the face of these banks, and this march today by our organisation was to bascially to demand action from the South African Reserve Bank, action from the minister, action from the president. In particular we want our Minister of Finance to resign, the governor to resign, but also we want a state bank, we want a black bank,” a demonstrator said.

The group say they also want lands to be given back to black South Africans as compensation for colonial-era seizures, insisting the government’s efforts are insufficient.

Under a current land policy, landowners are allowed to hoard until the selling price is acceptable.

This has angered many and led to reported cases of violence with about 500 incidents happening each year.

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