What exactly is ‘white monopoly capital’? PPF's Mzwanele Manyi has the answer
White monopoly capital is not the white corner café owner‚ but rather the massive firms that “control” the bulk of the country’s economy. This is according to Progressive Professionals Forum president Mzwanele “Jimmy” Manyi‚ speaking at an ANC Youth League event in Durban on Friday night. He said that draconian laws in South Africa's Constitution were preventing the transformation of the economy‚ not the corner shop owned by a white person. He said government needed to strengthen the arm of the Competition Commission and pass anti-oligopolies legislation. An oligopoly is a state of limited competition‚ where the market is controlled by a small number of firms. Manyi, who has been referred to as a 'shill for the Guptas' by the writer Palesa Morudu, was one of the panellists at the eThekwini ANC Youth League’s economic freedom discussion – which was held under the theme of “monopoly capital vs transformation” at the University of KwaZulu-Natal’s Howard College on Friday night. Other p...
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