Absa has apologised for a controversial Twitter poll asking social media users to define 'Black Tax' - a term which generally refers to the extended-family financial obligations placed on black professionals.
The bank received backlash over the poll on Tuesday morning with some suggesting that the survey is insensitive and others claiming it is a money making scheme.
I suppose this is market research to explore opening up a “Black Tax Loan” service to get Black people even more in debt than they already are.— Princess of Nkandla (@Sisi_Sasha) June 12, 2018
Piss off, Absa. https://t.co/MJJsVmu6ZK
I love how they have the audacity to throw the concept of ‘Black Tax’ around when their history was complicit in its very own creation. pic.twitter.com/aCyoCPNQaD— DrTurnUp (@Dr_Turn_Up) June 12, 2018
Black Tax is a result of you and many other companies being founded and funded by blood money from the apartheid Government at the expense of the Black poor South African majority https://t.co/CsbQIGjW5N— Esethu Hasane (@EsethuHasane_) June 12, 2018
All the declined loan applications to start businesses in the townships.— Tendai Joe (@Tendaijoe) June 12, 2018
That is #BlackTax
The bank has apologised and insists the poll was meant to be read alongside an expert opinion on the matter.
Sincere apologies - we understand how we have caused offence. Our poll was meant to include a link to our blog, where we interviewed an expert on the topic - we wanted to help. We failed. https://t.co/qgUvWFXgRY— Absa South Africa (@AbsaSouthAfrica) June 12, 2018
Meanwhile, Nedbank has capitalised on the outrage by responding to clients who are looking to switch banks.
Talk about a finishing move :) So @Jivz05 you happy with your bank?— Nedbank (@Nedbank) June 12, 2018
HI kompule, you'll be needing a new account, why don't you come see the Greener side of things were you can see your money differently :)— Nedbank (@Nedbank) June 13, 2018