While it was absent from the ANC’s national policy conference, it was clear the influence of the controversial Gupta family loomed large at Nasrec, according to several senior ANC leaders participating in the discussions on the economy. The ANC is now in limbo over economic policy as factions square up over populist policies — that insiders describe as often "formulated elsewhere" — that could have far-reaching consequences for SA. Long-simmering tensions bubbled over in the party’s economic transformation commissions as hair-raising proposals such as scrapping the Public Finance Management Act and the Financial Intelligence Act were tabled by forces supporting President Jacob Zuma.While these were among the proposals that did not gain traction, land expropriation without compensation, the dangers of "white monopoly capital" and the mandate of the Reserve Bank took centre stage in the debates, which took place on Monday and Tuesday and were set to continue on Wednesday. The economic...

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