Banks bashed in battle over South African financial system

Johannesburg

NEW allegations by President Jacob Zuma's supporters that South Africa's biggest banks are frustrating efforts to address racial inequality signal an escalation of a battle for control of the nation's financial system.

Protestors from the ruling African National Congress's (ANC's) youth wing invaded a Barclays Africa Group Ltd branch on Jan 26. On Monday, the ANC's top leaders said the four biggest lenders can't be allowed to continue dominating the industry.