Last year, South Africa’s ANCYL leader, Julius Malema started making a lot of noise about nationalization, and specifically, the nationalization of the mines, a major source of revenue for the country, and the possible establishment of a state mining company.
At the time, as this article suggests, South African President Jacob Zuma said that nationalization is not ANC policy, and that the ANC has not shifted its policy on nationalization.
Yet, a mere 4 months later, Jacob Zuma launched a state mining company!
Correct me if I’m wrong, but isn’t that exactly what Malema was talking about, and that Zuma said was not ANC policy?
Zuma says that this is all about building a strong, mixed economy and that local communities will benefit from the mining operations in their area. I sure hope this is true because the recent service protests seem to suggest that there may be some doubt over how much the local communities have really benefited from ANC rule.
People like Julius Malema, who have extravagant lifestyles, and there are others (Jacob Zuma’s son being an example), have ensured that they make a lot of money off state operations by having state contracts awarded to companies that they have a big financial stake in… Jacob Zuma’s son already has interests in a South African mining company. No doubt, a lot of money will be made off contracts awarded to them by the state mining company.
With all this being said, the question is…
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