The NUM leadership is not divided on the issue of UBank

NUM Press Statement, 23 June 2016

The NUM leadership is not divided on the issue of UBank

The National Union of Mineworkers (NUM) strongly refutes allegations published on The Star newspaper front page story titled "Guptas bank-capture bid" that the NUM leadership is divided on the issue of UBank or any other issue. When approached by Oakbay CEO Nazeem Howa, the NUM General Secretary David Sipunzi alluded to the fact that UBank is not for sale. However, the General Secretary stated to them that they have a right like many bidders before them to approach Teba Trust on the matter.

On the issue of Oakbay donating R1m to the NUM to cover costs of its central committee, there is no controversy in Oakbay donating to the NUM as there are other businesses that donated to the NUM towards its Central Committee.

"We also want to put it categorically clear that there are no NUM members who are suspicious of the donation from Oakbay or other business towards our central committee. It is an insult to business that when they donate to trade unions it is meant to be a sweetener," said David Sipunzi, NUM General Secretary.

"The journalist who sees instability in the NUM is dreaming. The NUM is one of the most stable unions in Cosatu and it has no splinter unions," Sipunzi added.

For further information contact

David Sipunzi: NUM General Secretary: 082 883 7293 Livhuwani Mammburu: NUM National Spokesperson: 083 809

The National Union of Mineworkers
7 Rissik Street.
Cnr Frederick Johannesburg
Tel: 011 377 2111 Cell: 083 809 3257
Twitter: @Num_Media

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