Call to boycott a big Bank

As the investigation by the public protector into the sale of a portion of Huddle Park continues, outraged Friends of Huddle Park lead co-ordinator Daryl Fuchs has called on Standard Bank clients to boycott the bank.

This after allegations that the sale and redevelopment of a portion of Huddle Park by Huddle Investments was improper.

Huddle Investments, which comprises shareholders from Investec Property, Standard Bank Properties and Global Capital purchased 53 hectares of Huddle Park for R45 million from the City of Johannesburg in 2011.

In previous articles, the North Eastern Tribune reported that members of the community had objected to the proposed development on the land, saying it would affect the wildlife in the park.

The land has been earmarked for the development of houses and a shopping centre.

Fuchs claims the tender process was flawed and they wanted a continued engagement with the public to stop the sale of the land and ensure the green environment was preserved.

He said, “Standard Bank clients must remember that their bank is destroying this environment. They must ask their bank about it, it’s an unnecessary destruction of our environment.”

Fuchs alleged it is an unwanted development which was only about profit and did not consider the environment. “Standard Bank clients must consider boycotting the bank, because it is an unscrupulous and unprincipled developer. The park is still under threat of development,” he said.

However, in his response, Standard Bank spokesperson Erik Larsen said the bank was part of a consortium that had acquired a portion of Huddle Park. Larsen said, “The consortium has made application to the relevant authorities to rezone about 53 hectares of Huddle Park for future development. As a good corporate citizen committed to ethical practices, Standard Bank is following proper governance and due process, in keeping with regulatory rules and regulations, including public participation.”

However Fuchs said Friends of Huddle Park ask that the city be stopped from turning one of Joburg’s largest green lungs into an ‘unnecessary’housing development, pointing out that so much developed land in the inner city is in need of re-development.

The office of the public protector has said investigations are underway to determine whether or not proper processes were followed in the selling of the land.