ANC overturns “strategic nationalisation” policy

By Drum Digital
20 December 2012

The ANC has overturned the decision they took at the June policy conference to introduce “strategic nationalisation” in key sectors including mining.

The party's 53rd conference decided on a new formulation for more state intervention in the economy, marking a complete defeat for the pro-nationalisation lobby in the ANC.

President Jacob Zuma and his supporters were opposed to the idea of nationalisation in any form as it was used as a proxy campaign against the president's second term. The resolution on economic transformation now states that there should be "increased state ownership in strategic sectors where deemed appropriate on the balance of evidence".

Speaking at a media conference on Thursday, the ANC's economic policy chiefs – including Enoch Godongwana, Thaba Mufamadi and public enterprises minister Malusi Gigaba – said even though they were advocating more state intervention in the economy this did not mean it would include nationalisation.

The defeat of the hard-fought policy conference resolution by the now Zuma-dominant leadership in the ANC is the final nail in the coffin of the ANC Youth League's “economic freedom in our lifetime” campaign.

By Ranjeni Munusamy/NewsFire.

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