Last year Standard Bank responded to former economist Chris Hart’s racist tweet within a day. That is how long it took a multinational bank to react to twitter outrage.
— Entrepreneur Zone (@SayEntrepreneur) January 4, 2016
While this website was not around back then, we support the efforts to condemn any sort of racism. And it appears the bank was very aware of its need to try and remove any suspicion that they harbour racists. After all, this is what Chris Hart tweeted:
More than 25 years after Apartheid ended, the victims are increasing along with a sense of entitlement and hatred towards minorities….
— Chris Hart (@chrishartZA) January 3, 2016
The question then arises: why does the selfsame bank not fear the backlash from an angry public for appearing to harbour, protect, or at the very least drag out the process as long as possible to shelter, a potential corrupt currency fixer? Standard Bank has said that it only learnt of the Competition Commision’s complaint on 15 February, and that they are engaging to learn more about the issue and will then decide on the appropriate action. Nine days later and there’s no moral outrage from the bank.
Contrast this to Barclays Africa CEO Maria Ramos apologising for her bank’s involvement in the scandal. Now consider the backlash to Ramos’ response being too little, too late. These are just a handful of the tweets:
I repeat my call. Maria Ramos please RESIGN as CEO of ABSA/Barclays’ Africa and face criminal charges of CORRUPTION. https://t.co/bWHyNS2UXs
— Mzwanele Manyi (@MzwaneleManyi) February 24, 2017
White monopoly is feeling the wrath of ANC. They losing, even Maria Ramos is apologising, Interesting times we living in.
— Tumelo Mapaa (@DjNewSouthAfric) February 23, 2017
Maria Ramos’s apology is not good enough! Illegal activities, whether by private or public sector, shouldn’t go unpunished. Heads must roll.
— SuperM (@mndyoko) February 23, 2017
Standard Bank won’t escape accusations that when it suits their public relations image they act fast in the face of rightful public outrage (over racism), but they drag their feet and play the legal game when it comes to accusations of financial crime, despite public outrage.
Why the apparent dragging of feet?