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 NEWSROOM AI
Fuelled by skyrocketing demand at home and abroad, the SA avo industry is thriving, says the SA Avocado Growers Association.
The Money Show’s Bruce Whitfield interviews Daily Maverick Publisher Styli Charalambous.
VAT at 17%... yoh! Bruce Whitfield interviews Lee Kasumba, who is exploring Mozambique’s central port city of Beira.
You've probably never heard of Chuck Feeney. Nevertheless, he’s one of the strangest, most impactful people who has ever lived.
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.
But can they be trusted? Are they independent? Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.
Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)
The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.
Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".
The Money Show’s Bruce Whitfield interviews Galileo Capital Financial Advisor Warren Ingram.
Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Elon Musk, as you’d expect, hails from an exceptional family. Bruce Whitfield interviews his Capetonian father.