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Ackerman speaks out on nationalisation

Aug 04 2011 10:18 I-Net Bridge

Company Data

Pik N Pay Stores Ltd [JSE : PIK]

Last traded R45.25
Change R0.13
% Change 0.29%
Cumulative volume 776,363
Market cap R21.74bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Cape Town - Pick n Pay Stores [JSE:PIK] founder Raymond Ackerman says he is opposed to nationalisation as the government's role was not to run companies.

"I don't believe even the government wants nationalisation," Ackerman said on Thursday when interviewed by CNBC.

He said that SA had plenty of opportunity, that it had a strong constitution and would not go the way of Zimbabwe.

"We have a wonderful constitution that would protect us from the likes of the ANC Youth League (ANCYL)," he said.

The ANCYL has been calling for nationalisation of the mining and banking sectors.

Government ministers, including Mining Minister Susan Shabangu and Public Enterprises Mminister Malusi Gigaba, have recently come out in opposition to nationalisation.

 

 
 
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