for subscribers

Numsa lashes out at white monopoly capitalism

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(File)
(File)

Cape Town – Twenty-one years into democracy whites still make up 75% of all top management positions in the South African economy and they continue to promote one another, says the National Union of Metalworkers SA (Numsa).

The trade union, which split from Cosatu two years ago after being expelled from the trade union federation, is holding its 10th National Congress in Cape Town.

In its Secretariat Report for 2016, Numsa said “Colonialism of a Special Type” continues to exist in the country. “The stranglehold of a small number of white monopoly capitalists over the great bulk of SA’s wealth and resources is based on colonial dispossession and promotes racial oppression,” it said.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.97
(+0.12)
ZAR/GBP
21.83
(+0.37)
ZAR/EUR
19.91
(-0.17)
ZAR/AUD
12.09
(-0.10)
ZAR/JPY
0.16
(+0.41)
Gold
1886.95
(+0.22)
Silver
23.97
(+0.90)
Platinum
876.01
(-0.30)
Brent Crude
42.88
(+1.08)
Palladium
2264.48
(+1.01)
All Share
54593.24
(-0.23)
Top 40
50412.03
(-0.33)
Financial 15
10018.43
(+0.87)
Industrial 25
73756.23
(-0.32)
Resource 10
53911.90
(-0.84)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1383 votes
It depends on how the funds are used.
73% - 8964 votes
No. We should have gotten the loan elsewhere.
16% - 1980 votes
Vote