Creating their own Bank: EXPECT much STEALING! – SA plans to launch government-run housing bank – My Comments
2008: S.Africa: Oprah Winfrey, Racist diva of double standards
Ms Winfrey openly and shamelessly admitted that her new school was not only racist, but also sexist. She opened an elite school only for Black Girls in SA.
[The Black Communist ANC who rule this country have failed at everything they've tried. If they start their own internal bank … expect plenty of stealing and failure. There's no way this will work well. We are ruled by fools, idiots and criminals. Jan]
South African finance minister Enoch Godongwana said they are looking at launching a housing bank to provide loans to public sector employees and the gap market.
Godongwana revealed their housing bank plans in a CNBC Africa interview at the World Economic Forum’s annual meeting in Davos.
He said the unions asked the government to replicate the Government Employees Medical Scheme (GEMS) to create a housing bank.
“We agree with the unions that we should do a similar exercise as we did with medical aid by creating a state medical aid called GEMS,” he said.
“We need a similar arrangement with public sector employees to create a housing bank to create loans for them.”
The government housing bank will also provide loans to the gap market — people who earn too much to get RDP houses and too little to get mortgages from banks.
Godongwana added that a fully-fledged state bank via the South African Post Office is also under development.
“The challenge for a state bank was the regulatory framework. That regulatory framework is coming true,” he said.
“The second issue is sufficient instruments for a state bank. There are discussions about whether we should merge African Bank with the Post Office to create a bigger state bank.”
He added that the regulatory framework for a state bank would be similar to the regulations for any other bank.
“When tailoring the state bank products, it will take that into account,” he said. “That process is in motion.”
2004: S.Africa sells nuclear secrets to RED CHINA
Since the blacks came to power, weve had the Russians here, getting our military technology. Now were helping out those peaceful Chinese communists who threatened to nuke LA. This is a special article from the late Adriana Stuijt in the Netherlands.
