Don’t bank on it
While attendees at the ANC policy conference, held in July, could not agree on whether monopoly capital was white or not, they did agree on the need to nationalise the SA Reserve Bank. As things stand, the final decision on whether the central bank should be state-owned will be taken at the party’s national conference next month.
But the ANC did an about-turn at this week’s heated debate, sponsored by the Economic Freedom Fighters. Responding to Juju’s call for banks to be nationalised, the ANC opposed this idea, calling it misplaced. It did not reflect on its own proposal for the central bank. Sour grapes, perhaps?