White monopoly capital still in the spotlight
THE ANC’s battle on “white monopoly capital” that began at the party’s policy conference in July, looks set to rage on at the party’s national conference, starting tomorrow.
At a briefing at Luthuli House yesterday, Arts and Culture Minister Nathi Mthethwa, chairperson of the ANC’s national executive committee’s (NEC) sub-committee on political education, conceded the concept of white monopoly capital was a heated point of debate and discussion at the July policy conference.
The national ference (NPC) recommended the party’s policy positions be adopted at the 54th national elective conference.
A faction of the party wanted the term “white monopoly capital” – and not strictly monopoly capital – to characterise what is antithetical to the party’s national democratic revolution.
But ANC NEC member Joel Netshitenzhe announced on the penultimate day of the policy conference that nine out of the 11 commissions had rejected the term “white monopoly capital”.
This infuriated ANC structures and leaders seen to be aligned to Dr Nkosazana Dlamini Zuma, who demanded that Netshitenzhe apologise and retract what he had said, but Netshitenzhe refused.
Yesterday, Mthethwa underscored what the NPC adopted, saying monopoly capital was antithetical to building an economy with high levels of competition.
“The point we are making here is that, when it comes to monopoly capital, it really doesn’t matter about the colour – whether it’s black or white.
“If tomorrow South Africa develops – or whatever happens – and then you have black monopoly capital… Still, that will not be in sync with what the ANC stands for,” Mthethwa said.
But when pressed by The Star on whether monopoly capital found resonance within the party, considering the push-back after the rejection of white monopoly capital, Mthethwa explained how white monopoly capital had always been found in ANC lexicon and literature.
He repudiated assertions that it was a concept developed by the disgraced British public relations firm Bell Pottinger, which was found guilty in Britain of sowing racial divisions in South Africa – on behalf of the Guptas.
“It can’t be true that we have a colourless monopoly capital in South Africa,” Mthethwa said. “You just have to look around.”