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
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.
Recommendedby THE NEWSROOM
The Money Show’s Bruce Whitfield interviews EWN Parliamentary Reporter Lindsay Dentlinger.
Bruce Whitfield talks to Euphonik (aka Themba Nkosi) about his attitude to money (hopes and fears, successes and failures, etc.)
Bruce Whitfield interviews Dan Ariely, co-author of "Dollars and Sense: How We Misthink Money and How to Spend Smarter".
These are the three best shares to buy right now, says stockbroker and portfolio manager Nesan Nair.
It’s hard, but not impossible. Arabile Gumede interviews Argon Asset Management Economic Strategist Dr Thabi Leoka.
"We know people are scared. They [ANC MPs] need to see that South Africa is behind them," says Sygnia's Magda Wierzycka.
Certified biomimicry professional & founder of Biomimicry SA Claire Janisch chats about how biomimicry can help humans adapt.
The Hawks are in possession of video footage showing Gupta, wanted in connection with Vrede dairy farm scandal, leaving SA.
The JoJo brand has entrenched itself in the psyche of South Africans. Bruce Whitfield interviews its MD, Grant Neser.
Political analyst Richard Calland says there was a sinister and threatening tone to President Zuma's interview with the SABC.
Cyril Ramaphosa's ex-wife says abuse allegations spread by EFF leader Julius Malema are an attempt to tarnish his reputation.
These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.
The magazine describes Cape Town as a city flanked by stunning beaches and calls it “The African Capital of Cool”.