In a move described by the DA as “inappropriate groveling,” the ANC and FNB released a joint statement following their emergency meeting, which may have resulted in FNB CEO Michael Jordaan’s resignation.

FNB’s response and cowering to the ANC, following the unfavorable response by the ANC to their provocative online video campaign “You’re the voice” is a master class in subservience. From the word go, FNB displayed total and utter fear for the ANC, with Firstrand CEO, Sizwe Nxasana immediately contacting the government, the moment the ANC Youth League made a statement on Monday 21 January, suggesting the campaign and its videos amounted to treason.

The Sunday Times can reveal that on Monday morning, just after the ANC Youth League issued a statement accusing FNB of “treason”, Nxasana sent an SMS to Minister of Basic Education Angie Motshekga.

The minister had been called “brainless” by a youngster in one of the online clips.

In the SMS Nxasana wrote: “Good Morning Minister. I have instructed FNB to remove the video clips from their website this morning. I will investigate how and why the clips ended [up] on their website. Sincere apologies for this. Sizwe.”

[more here]

In an incredible display of irony, FNB did remove the offending Youtube videos from their “You’re the voice” campaign. Apparently those kids in the videos WEREN’T the voice.

FNB were called into the headmasters office on Friday and duly bent over for a good hiding, followed by this meek joint statement.

In that very meeting, CEO of FNB, Michael Jordaan admitted that he had not see all the videos.

Emotions ran high when Jordaan suggested that the ANC had “misunderstood” the campaign.

A furious ANC delegation accused Jordaan of “insulting” the government and “feeding into the opposition narrative” by portraying the party and government in a bad light.

The bank was accused of trying to turn “born frees” – those born after the first democratic election in 1994 – against the party.

An insider said a “bewildered” Jordaan took responsibility for the overall campaign but said he was not aware of some of the YouTube clip s.

The bank’s executives said that the selection of videos posted on YouTube had not been made by senior management.

“[Jordaan] admitted that he signed off on the campaign but he didn’t know some of the things … the stuff that went to YouTube. He said when he signed off on the campaign he didn’t think of the interpretation we were giving … he was remorseful.”

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Remorseful indeed. So much so that Moneyweb reported shortly afterwards that Jordaan had tendered his resignation, although this was later denied.

This, from Mail& Guardian:

“I am not resigning as CEO [of] the most innovative bank in the world.” Jordaan tweeted on Friday morning.

He was responding to a report on Moneyweb that he was resigning after two independent sources close to First National Bank (FNB) said they were informed of Jordaan’s plans to leave the bank by the end of the year.

On his Twitter page Jordaan posted a Moneyweb article about his resignation and commented that it was speculation.

However, Twitter users tweeted about the resignation, FNB apologising to the ANC and the campaign.

Ambassador to Argentina and former Democratic Alliance leader Tony Leon tweeted: “The ANC must be laughing all the way to the bank.”

[more here]

Tony Leon wasn’t the only DA member making a noise, as the opposition released a formal statement:

First National Bank’s apology to the ANC sends a message to companies that it is not acceptable to question or criticise the ruling party, the DA said on Friday night.

“In doing so [apologising] it has shown that it is acceptable to be bullied by the governing party, and it has shown the ANC that its bullying tactics work in suppressing critical voices,” Democratic Alliance spokesman Mmusi Maimane said in a statement.

“Dissenting voices are healthy in a democracy, and the ANC’s overblown offense at FNB’s advert was inappropriate and petty.

“But the ease with which FNB is willing to grovel before the ANC and abandon its principled position is equally inappropriate and bad for democracy.”

He said it was little surprise that many South Africans were already considering closing their FNB accounts.

[more here]

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