Recent actions taken by Standard Bank to unbank Independent Media has got the financial services giant trending on X (Twitter).
Public sentiment quickly gained momentum, placing Standard Bank in the social media spotlight with Twitter users voicing their concerns and opinions about the decision.
Independent Media have long held that Standard Bank’s decision is a direct threat to media freedom.
They argue that the decision by Standard Bank not only impacts them directly but also resonates with a vast section of the public who rely on their services and information.
It's a LIE that Standard Bank has stopped its decision to close the Independent Media bank accounts. They are only buying time till next month. Coordinated by the STD Bank PR company, News24, Amabhungane, and Daily Maverick, prepared a media onslaught against Sekunjalo and Surve. pic.twitter.com/MtMNQE8hhy
— Edmond Phiri (@edmonphiri) August 10, 2023
The tidal wave on X (Twitter) has seen users employing various hashtags, stories of employees sharing personal opinions, and referencing the importance of media freedom and the right to financial accessibility.
The issue has grown beyond a mere business decision into a discourse on constitutional rights, the power dynamics between banks and the public, and the essential role of media in democracy.
In the midst of this, and possibly recognising the gravity of the situation and perhaps as a nod to public sentiment, Standard Bank has announced a pause on their initial decision.
They have opted to keep the bank accounts of Independent Media open for the time being. This move is seen as giving space and time for Independent Media to approach the constitutional court to overturn the initial unbanking decision.
#RightToBank #StandardBank #Democracy #MediaFreedom #FreeSpeech #Today #SouthAfrica #Jobs the ones in power will always make you feel lesser than you should be keep fighting 💪
— Mr LD (@crazyboyass) August 10, 2023
The recent unbanking saga that involved UK politician Nigel Farage also provided a pivotal moment in shaping public sentiment on financial exclusion.
Farage's widely-publicised experience with being 'unbanked' elicited strong reactions, drawing attention to the broader issues of banking power and individual rights.
The coming weeks will surely see more developments as Independent Media make their appeal to the constitutional court. For now, the digital sphere continues to buzz with discussions, debates, and a close watch on the next moves of Standard Bank.
IOL