Malema appeals for funds for new party

Cape Town - Expelled ANC Youth League leader Julius Malema took a swipe at the ANC for failing to advance the country economically, while appealing for help to raise funds amid talks of a new political party.

Malema appealed on Tuesday for financial assistance after launching a new political movement.

He established a new political formation called the Economic Freedom Fighters with a view to forming a political party. 
 
However, he confessed to having little funding to run this enterprise.

"We call for submission on what can be fundraising mechanisms for this platform because we do not have money," Malema said in a statement.

He added that a lack of money cannot stop the forum from expressing its democratic rights.

Malema launched a blistering attack against the ANC. He said poverty, unemployment and inequality will worsen under the leadership of ANC.

The new movement intends on holding consultative forums across the country.

These meetings aim to discuss issues such as the redistribution of land and the nationalisation of mines and banks.

"The ANC is committed to a right-wing, neo-liberal and capitalist agenda which has kept (the) majority of our people on the margins of South Africa's economy," Malema said in the statement.

It also labelled the National Development Plan as a "neo-liberal, right-wing and reactionary policy framework" and said it will worsen South Africa's socioeconomic problems.

Meanwhile, Malema's plans of starting a political party sparked debate online, with most people dismissing the idea.

Kevin Sadie wrote that the only solution to fix South Africa is to do away with black economic empowerment, but he added that there is still a role for employment equity.

"Allow all businesses the opportunity to build infrastructure. This thing about comrades and partners getting tenders did more damage to our economy.

"May the best get the opportunity to build on the existing infrastructure," he said.

Teboho Martin was in support of the firebrand. "I will buy a huge membership! We support u all the way."

Lenka Mojau expressed disappointment at Malema's gripe with the government, but said there was still hope for him to return to the ANC fold.  

"He is young and if he is patient enough there [is] a high possibility he would come back.

"I believe the majority of people support nationalization of key economic sectors, and the possibility of having an influence outside of the ANC are zero," Mojau said.

The economic future of the country will be bleak if Malema garners votes, wrote Johan Grobbelaar.

"If Malema should form a political party and contest in the election and win a significant number of votes, this country is doomed.

"International investors will divest and rather invest in other African countries where their investments are safe, like Ghana."

Users Zane Ratlabyana and Hein Huyser believe that Malema is getting financial backing from people within government.

"You would be surprised and shocked if you truly knew [Malema's] sponsors are within government holding ministerial post[s] and a family that Zuma has betrayed with Gupta family," wrote Zane.

Huyser concurred and stated that the "money is coming from within government" and that President Jacob Zuma knows it "very well".

 - Fin24



We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Rand - Dollar
15.89
+1.2%
Rand - Pound
21.04
+1.0%
Rand - Euro
17.94
+1.3%
Rand - Aus dollar
11.19
+0.5%
Rand - Yen
0.14
+1.4%
Gold
1,778.72
-0.3%
Silver
22.25
-1.3%
Palladium
1,791.00
-1.4%
Platinum
929.50
-0.7%
Brent Crude
69.88
+0.3%
Top 40
64,611
+0.5%
All Share
71,043
+0.3%
Resource 10
67,551
+1.6%
Industrial 25
93,354
-0.5%
Financial 15
14,066
+0.6%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot