'Land restitution failed because Government is the biggest owner of land'

In an opinion piece published by the Sunday Times, Finance Minister Malusi Gigaba’s new economic advisor Professor Chris Malikane proposes a new economic plan that includes the “expropriation of white monopoly capital establishments such as banks, insurance companies, mines and other monopoly industries to industrialise the economy”.

The Ministry of Finance has since distanced itself from the piece.

The Money Show’s Bruce Whitfield interviewed Malikane.

He also spoke to Business Leadership South Africa (BLSA) Chairperson Bonang Mohale.

BLSA on Sunday published advertisements in a number of newspapers, beseeching the ANC and its alliance partners to “exercise their conscience” to stop state capture.

Click here to read the full text contained in the advertisements.

Listen to the interviews in the audio below (and/or scroll down for quotes from it).

The land was taken by force; it’s high-time we redress that historical injustice.

Professor Chris Malikane, Wits

The mines has two functions. They produce minerals and earn monopoly profits.

Professor Chris Malikane, Wits

Nationalisation has worked in India. More than 75% of mining operations there are run by state-owned companies. China is another case in point. You see the heavy role of the state. The same in South Korea and Singapore…

Professor Chris Malikane, Wits

One of the challenges that Eskom has, is the price of coal… New Zealand has nationalised coal…

Professor Chris Malikane, Wits

I wrote this piece before I became appointed.

Professor Chris Malikane, Wits

This article has made the job of the Minister of Finance more difficult.

Bonang Mohale, Business Leadership South Africa

This government already owns six banks! Why would they want to nationalise more banks!

Bonang Mohale, Business Leadership South Africa

The reason why land restitution has failed is because the biggest owner of land is Government.

Bonang Mohale, Business Leadership South Africa

If Government wanted radical economic transformation it would’ve given the land that it already owns to these communities!

Bonang Mohale, Business Leadership South Africa

The poor minister and his deputy are doing their absolute best, but they jumped into a poisoned well. I pity them!

Bonang Mohale, Business Leadership South Africa

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Blind Spots: How they come about and how they affect your business

Blind Spots: How they come about and how they affect your business

As a small business owner, nobody expects you to be perfect. Because you cannot see them, blind spots could be a real nuisance.

Where to invest your overseas capital

Where to invest your overseas capital

With the political climate as volatile and rife, the US might not be the best country to keep your overseas capital.

Bitcoins: Only up from here, or just another wave?

Bitcoins: Only up from here, or just another wave?

Find out how the cryptic currency managed to gain so much momentum so relatively fast and kick yourself for missing out.

Great ideas, wrong time

Great ideas, wrong time

The iPhone, Ebay and Facebook, we all know these killer applications but what about their very similar predecessors that flopped.

Here’s what it’ll take for South Africa to rise from junk status…

Here’s what it’ll take for South Africa to rise from junk status…

It’s hard, but not impossible. Arabile Gumede interviews Argon Asset Management Economic Strategist Dr Thabi Leoka.

'We need 50 brave souls in the ANC to vote with their conscience'

'We need 50 brave souls in the ANC to vote with their conscience'

"We know people are scared. They [ANC MPs] need to see that South Africa is behind them," says Sygnia's Magda Wierzycka.

Popular articles
Best bank ad ever? Andy Rice reviews Investec’s “you’re more than data”

Best bank ad ever? Andy Rice reviews Investec’s “you’re more than data”

The Money Show’s Bruce Whitfield interviews the advertising expert about the best and worst new advertisements.

Police apparently mulling over warrant of arrest after Grace Mugabe a no-show

Police apparently mulling over warrant of arrest after Grace Mugabe a no-show

EWN understands that lawyers representing the Zimbabwean first lady are negotiating with officers at the Sandton police station.

[LISTEN] 20-year-old SA woman traumatised by Grace Mugabe's assault

[LISTEN] 20-year-old SA woman traumatised by Grace Mugabe's assault

Gabriella Engels says she is saddened by people who are calling her names on Twitter before they understand the full story.

Traffic gridlocked as Imizamo yethu residents make their way to Cape Town

Traffic gridlocked as Imizamo yethu residents make their way to Cape Town

About 40 minibus taxis, in a convoy at a very low speed, are transporting Imizamo Yethu residents into CT for a planned protest.

Words you’ll hear: Grace Mugabe's latest nickname

Words you’ll hear: Grace Mugabe's latest nickname

Find out why Zimbabwe's First Lady should be dubbed with the moniker 'extension cord'.

Discovery CEO (and founder) Adrian Gore bares his soul about money

Discovery CEO (and founder) Adrian Gore bares his soul about money

The Money Show’s Bruce Whitfield interviews Gore about his attitude to money (hopes and fears, successes and failures, etc.).

Ocean Basket gives franchise owner the chop after assault video

Ocean Basket gives franchise owner the chop after assault video

The man was immediately divested of his shares and is no longer part of the group, explains Ocean Basket CEO Grace Harding.

WATCH: Cape schoolkids 'starstruck' after Trevor Noah,  Charlize Theron drop by

WATCH: Cape schoolkids 'starstruck' after Trevor Noah, Charlize Theron drop by

Oaklands High principal Reza Patel says it was an extremely exciting experience for both the learners and staff. We can imagine!

CoCT explains new electricity tariffs

CoCT explains new electricity tariffs

Following residents concerns over new electricity tariffs and properties being re-evaluated, Johan van der Merwe provides clarity.