STATE CAPTURE
Investec chief: slogans a ruse to aid graft
Catch-phrases are being used as a ruse and a distraction to enable rent-seeking and looting, says Investec chief
Catch-phrases such as "white monopoly capital", "fake news" and "alternative narrative" are being deliberately used as a ruse and a distraction to enable rent-seeking and looting, says Investec CEO Stephen Koseff. There was concern that business was being made a scapegoat for SA’s societal ills, he said while addressing a briefing hosted by the Progressive Business Forum at the ANC’s national policy conference. Discussions on economic transformation in SA dominated proceedings at the six-day party conference, with issues such as the mandate of the Reserve Bank, white monopoly capital and land expropriation being the most contentious. Koseff said business was not the enemy. "Particularly when slogans like white monopoly capital, fake news and alternative narrative are used as a ruse, a distraction to enable rent-seeking and looting," he said. The term "white monopoly capital" has faced scrutiny since it emerged in a tranche of leaked e-mails between the Guptas and their associates in...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.