• Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

  • Govt is out of touch

    Journalists seems to know more than those paid to govern us, says Mandi Smallhorne.

  • Terry Bell's Inside Labour

    Private firms can't be blamed for picking up anything lucrative on offer, says Terry Bell.

All data is delayed
See More

Cosatu: Nationalisation is a given

Aug 04 2011 13:56
Johannesburg - Nationalisation is going to happen; it is just the manner in which it will be implemented that needs to be decided, Cosatu said on Thursday.

"If you say business needs certainty to make investments ... this is the certainty you need to have, that what is being discussed now is models," Cosatu economist Chris Malikane said at a debate on nationalisation.

He said the task team established by the ANC to examine nationalisation was not looking at the feasibility of the policy, but exploring the most appropriate model to implement.

Cosatu had encouraged the ANC Youth League to place nationalisation firmly on the agenda, he said.

Malikane said all the parties represented at the last ANC national executive committee meeting supported nationalisation.

If the ANC task team produced a study that looked only at the feasibility of nationalisation, it would be rejected outright, he said.

Nationalisation referred to state ownership of all means of production including mines, banks and mineral wealth. Compensation would be paid, but not for land.

"We'll have to compensate in the interests of the public, but not in a way that will cripple the South African state... there has to be a balance."

He said land was a natural asset that should be owned by the state and used by farmers, and that no compensation should be given for land.
cosatu  |  anc  |  nationalisation debate


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
Comments have been closed for this article.

Company Snapshot

We're talking about:


Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.

Money Clinic

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

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote