Mbeki is wrong when he says there's no white monopoly capital - Malema

Durban - Former president Thabo Mbeki "coined two nations" in South Africa, EFF leader Julius Malema said on Saturday.

"The other nation is white and rich. The other nation is black and wild," Malema said during his party's fourth anniversary celebration in Durban.

Addressing thousands of EFF supporters in red regalia and berets, Malema said Mbeki and former finance minister Trevor Manuel were wrong when they said there's no white monopoly capital in the country.

"I know president Mbeki, you're fighting your own factional battles. But when you fight your battles, don't distort the truth. Whites are monopolising our economy," he said.

He said that's one reason why they don't want to invest their money into the country's economy through industrialisation "because they don't trust South Africa's democracy".

"There is white dominance and control of our economy. Today when you remove the ownership by pension fund from the stock exchange, the remaining 90% belongs to white families," he said, before asking "who owns the land, factories and monopoly industries in the country"?

He said Mbeki's story that there's no white monopoly capital is not correct.

"I don't like [the] Guptas, I don't like Bell Pottinger, but I cannot either associate myself with the corruption of white monopoly capital because of hatred that is a distortion. I don't agree with that," said Malema.

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"Let us not factionalise the real challenges of our people. But I understand president Mbeki, you're getting too old, so sometimes reality might escape you. But also president Mbeki, when consciousness leaves you it doesn't say goodbye," he said.

Malema warned that their love for Mbeki "should not make us fail to see reality".

'Gupta monopoly capital'

The problem with the term white monopoly capital is that it's being used by "dunderheads", Malema said.

"[President Jacob] Zuma goes around saying white monopoly capital exists, [but] using it for stealing. He says it must be defeated and replaced by a Gupta monopoly capital. We don't want that nonsense!" said Malema.

He said their defeat of white monopoly capital must not be replaced by black monopoly capital.

"It must be replaced by socialism and sharing of wealth. We are not for any monopoly, not even Indian monopoly which happens here in Durban," Malema said.

He said in KwaZulu-Natal everything strategic is given to Indian families.

"Every big tender is given to Indian families in Natal. We don't have a problem, but we're saying share with our people," he said.

He called upon "our fellow Indians" in the province to respect Africans.

"They are ill-treating our people. They are worse than Afrikaners were. This is not an anti-Indian statement, it's the truth," he said.

He said during his door-to-door campaigns in Durban during the week leading up to the anniversary celebration, "people cried tears when they described the treatment they get from Indian, especially those who own shops".

"Indians who own shops don't pay our people, but they give them food parcels. They must be paid a minimum wage. We're not going to nurse feelings here," he said.

He accused the ANC in KwaZulu-Natal of being captured by some Indian families. He said the ANC allowed Indians to exploit "our people".

"The ANC and other political parties in Natal are captured. They may not be captured by the Guptas, but are in pockets of other Indian families. We want an equal society," he said.

Secret ballot

Malema said since the formation of his party on 26 July, 2013, they have managed to have more than 800 councillors across the country.

He said they were still calling for the secret ballot vote for the motion of no confidence against Zuma.

He said they were ready to go to court if Assembly Speaker Baleka Mbete decides to rule otherwise.

"If she allows for a secret ballot, Zuma will be gone," he said.

Malema said they only want to remove Zuma from government not the ANC because people voted for it.

"We respect our people and we will wait for 2019 to remove the ANC," he said.


Malema also encouraged members of his party to occupy vacant land.

"If you don't own a piece of land, you're a coward," he said. He also accused "all private schools with whites" of being racists.

Malema said the EFF's Student Command will fight for no increase of university fees next year.

On Thursday, July 27, the EFF visited Zulu king Goodwill Zwelithini who was celebrating his birthday.

"We gave him four pregnant cows and a bull and in exchange he gave us a bull," he told EFF supporters. After his speech, actors, DJs and musicians entertained the EFF supporters.

The EFF's anniversary cake would be donated to charity, the party said.

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