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…
Vote in the poll and leave your comments below…
This is a sad day for FREE enterprise in SA.
With Nicky Oppenheimer retiring from De Beers, and the nationalizing of the mininnig industry is the beginning of the communist/socialist take over of industry.
State owned entities, ie.Utilities and Rail services and roads etc. are collapsing. No forward planning and lack of qualified free enterprise companies will turn this into a maelstrom like the rest of Africa.
The Chinese are watching events unfold and once the ANC find out, like all the other vested interests will sell it to the Chinese at basement bargin prices and they will become the new owners handing out jobs to the masses for a mere pittance making the nation slaves to their Chinese bosses.
Marmaduke, I am in total agreement with you have written, it can furthermore be added that the powers that be in the present government do not seem to have the ability to see the writing on the wall. The hated the white man for making them "slaves" but they aint seen nothing yet when the Chinese take over — they are an insidious nation and will treat the blacks with the same contempt as they do their own people. Enough said. America is going to go the same way if the Americans dont take their heads out of the sand…
Update: Here is Malema now saying they want 60% of Anglo American and that nationalization will be a reality in his lifetime. He is also encouraging his supporters to have more babies because, as he puts it, more babies will strengthen the economic revolution. http://www.news24.com/SouthAfrica/Politics/Malema…
Sadist……eventually we will get the leaders we need and long for however at this moment a 0.00000000001% of the people in this country are gorging themselves on the raw material riches of his country whilst poverty remains a huge problem.
Im doing a mid paper on SA nationalizing the mines, and from reading all these forums, the general direction that all comments and opinions lead to is that we are being run by a hypo-critic government that is running in the footsteps of the Nazi leader Hitler – in a absurd way –
However, could this move from our government be beneficial for international markets considering, more international investments puts us in a stronger position for allies, with war happening where the crude oil lies (strongest commodity) and we having a country rich in gold, do we not need to team up with a super power such as China to have some pull in the world economy?
As far fetched and confusing as that sounds our South African moral will force us to say we should keep it in our country and develop SA to increase ability to trade, but as politics will have its about covering their personal ends in a monetary form for "the future" and not really fighting for cause for the well being of the country and its people who are effected the most by it.
But most likely this is the first steps of Totalitarianism within our country – there's something about greed and power that can consume people to forget about their responsibilities.