The controversial concept of "white monopoly capital" was rejected by the majority of ANC delegates at its national policy conference. ANC policy guru Joel Netshitenzhe confirmed that nine out of 11 commissions agreed it would be incorrect to label the "phenomenon of capital "as white monopoly capital. He said the delegates agreed that monopoly capital remains as it is but the party cannot deny white dominance in the economy‚ in the context of assets‚ income‚ professions as well as other privileges the democratic government inherited from the past. The decision was taken following heated debates with those supporting President Jacob Zuma arguing that monopoly capital should be called white monopoly capital. TimesLIVE understands the balances of forces in support of monopoly capital came from Limpopo‚ Western Cape‚ Northern Cape‚ Mpumalanga and Gauteng. They argued that Monopoly Capital was hindering the socio-economic transformation of the country‚ particularly on the basis of class...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now