ECONOMIC TRANSFORMATION
LUMKILE MONDI: Eskom epitomises Zuma’s radical vision
Rather than accumulating, the existing state monopoly capital is looted for private benefit
Before 1994 the South African economic development model was dominated by monopoly capital, both private and public. A capitalist state that in the 1980s owned and privatised parts of the commanding heights of the economy in the energy, railways, iron and steel, forestry and basic chemicals sectors coexisted with the private sector. The private monopolies occupied the mining, finance and other service sectors. Changes in the colonial and apartheid development model have revealed themselves in the public enterprises portfolio committee’s state capture inquiry, showing the extent to which radical economic transformation has been implemented under Jacob Zuma’s presidency. In the ANC leadership race, which will be settled in three weeks, Nkosazana Dlamini-Zuma has adopted her former husband’s economic model of radical economic transformation in an attempt to "reinvent the future". However, last week South Africans heard from the public enterprises minister and the former chairman and CE...
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