• Inside Labour

    The 'casualisation' of the workforce is often a ploy to cut costs, says Terry Bell.

  • When drones go dancing

    Drone technology's future is about to come to life in Cape Town, says Arthur Goldstuck.

  • Testing times for Matona

    New Eskom CEO Tshediso Matona has his work out cut out for him, says Mzwandile Jacks.

Data provided by iNet BFA
Loading...
See More

ANC: Nationalisation 'off the table'

Dec 20 2012 13:34 Sapa
Mangaung conference

(Picture: Sapa)

Related Articles

ANC rejects nationalisation

Nationalisation backers 'wasted chances'

Why nationalisation won't work

Shabangu: Nationalisation bad for mining

ANC rejects 'wholesale nationalisation'

ANCYL plots nationalisation strategy

 
Bloemfontein - The ANC's national conference has resolved that wholesale nationalisation is “off the table”, ANC economic transformation policy commission head Malusi Gigaba said on Thursday.

“The national conference has refused to be drawn into the word 'nationalisation',” he told reporters in Bloemfontein.

“National conference was eager we provide final clarity on the issue. The issue of nationalisation as we have discussed it over the last few months is off the table.”

However, Gigaba said there would be “strategic nationalisation” where necessary.

“As is the case with all other economies, there may come a moment where a particular sector might need to be nationalised for a specific reason."

Commission head Enoch Godongwana said “scientific evidence” was needed to determine whether a sector needed to be nationalised.

“The state will increase state ownership in strategic sectors where deemed appropriate on the balance of evidence.”
He said delegates had resolved there needed to be effective use of state-owned enterprises. Transforming them would be a “key” factor in development.

“At the forefront of state intervention is the strength of the state mining company,” Godongwana said.

“The state must [also] capture an equitable share of mineral resources through the tax system. Conference resolved that there needed to be a review on strategic minerals."

It resolved that a review of mining companies was needed to determine whether they complied with the mining charter.

With regards to rural development and land reform, Godongwana said there were no “substantial changes” to the resolutions made at the ANC's policy conference earlier this year.

“Key to rural development and land reform is the issue of restitution, redistribution and development.”

Godongwana said conference delegates favoured the “just and equitable” clause in the constitution to deal with land redistribution over the willing-buyer, willing-seller model.

“This issue is enshrined in the constitution,” he said.

The constitution makes provision for the expropriation of land with compensation.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

malusi gigaba  |  mangaung 2012  |  mining
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
39 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Expanding your business requires capital and banks have stringent lending criteria in place.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...