Breakfast with Bongani Bingwa

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.

READ: Black tax holding South Africans back from realising their aspirations

ALSO READ: Many black South Africans pay a "Black Tax" (and some Whites pay a "White Tax")

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.

Piss off, Absa. https://t.co/MJJsVmu6ZK

— Princess of Nkandla (@Sisi_Sasha) June 12, 2018

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 Off Duty (@EsethuHasane_) June 12, 2018

Bathong, black tax is a result of apartheid. Where's that option?

— Seabela waa Maila (@Abi_Maila) June 12, 2018

All the declined loan applications to start businesses in the townships.
That is #BlackTax

— Tendai Joe (@Tendaijoe) June 12, 2018

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