Hon Chair and members, firstly, I would like to thank the members who have risen on behalf of their parties to support this Bill. I would like to thank Cope in particular, even though their support was grudging because of their worries about corporate governance and the powers of the Minister and so on, but I think it is better than opposition or prevarication. Let me thank the IFP for their unequivocal support, and thank the ACDP as well.
I think the Deputy Minister as well as the hon De Lange have responded to some of the worries that the other members have pointed out with respect to this Bill, and have assured members that there are good safeguards in the Bill in order to ensure that there are very few risks or no risks at all to the savings that the poor will make.
I would like to respond to some of the issues that the DA raised. The ANC fought and won the election in 2009 with an overwhelming majority. In our election manifesto we promised the electorate to deliver on a mandate which prioritised rural development, poverty alleviation and economic growth, among other things.
The Bill is consistent with the mandate derived from the electorate. It will be an important catalyst for economic growth, and seeks to empower the marginalised communities of the country, which to most men and women are represented by the ANC and not the DA. The ANC speaks for the people of South Africa as a whole, but we speak in particular for the disadvantaged and the poor. The DA speaks for the advantaged class and the rich, and that is why they do not support this Bill. [Interjections.] The contention that the Bill gives the Minister too much power has become a familiar refrain in the discourse of the opposition. [Interjections.] They would rather that the power lies in some unelected entity where they would have an impact or influence.
The majority black government must be weakened by committees that supersede the executive authority of the elected majority party. But the Minister needs power, which she or he exercises through the Cabinet. [Interjections.] This Bill provides for the establishment of the Postbank as a financial institution, which should be governed as a bank, and the Minister will act with the concurrence of the Minister of Finance. I do not see anything amiss with that.
Policy for the Postbank must be informed by the needs of the developmental state and the priorities which our people mandated us to pursue, and we will do so doggedly and unflinchingly. We will not be lectured to on democracy and good governance by those we fought for and gave democracy and good governance to. We will not abuse the power that we get, and we will not deliberately create mechanisms that give rise to such abuse. [Interjections.]
We suffered such abuse and autocracy for decades, but we will not hesitate to get the power that we need to drive our developmental agenda. We cannot afford to be emasculated by pontificating and fine-sounding phrases which we know are not genuinely meant. I thank you. [Applause.]