Enoch Godongwana. Picture: MOELETSI MABE
Enoch Godongwana. Picture: MOELETSI MABE

A change of leadership in the ANC should not signal a shift in policy, the party’s economic transformation subcommittee chairman says.

Briefing financial reporters ahead of the ANC’s elective conference this weekend, Enoch Godongwana on Thursday said the party was at pains to delink the two.

The local business community and international investors have shown keen interest in the outcome of the party’s 54th national elective conference.

Leaders on Thursday remained locked in a special national executive committee meeting to discuss last-minute preparations for the conference, which starts on Saturday.

On issues of land redistribution and ownership of the Reserve Bank, among others, the two main factions in the leadership contest — supporters of Deputy President Cyril Ramaphosa and Nkosazana Dlamini-Zuma backers — have different ideas when it comes to economic transformation policies.

However, the view that a change of leadership would have an effect on policy was a misconception, Godongwana said.

He said there was consensus on the institutional independence and policy independence of the Reserve Bank.

"No one is contesting that," he said. "Monetary policy is safe from political manipulation," assured Godongwana.

On land, he said no one could deny that land redistribution in South Africa had been painfully slow and radical transformation was needed.

The success of the national conference would be achieved through two things — rebuilding confidence in the economy and structural reforms, said Godongwana.

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