Nationalisation debate 'to end in 2012'
Fin24

Nationalisation debate 'to end in 2012'

2011-08-31 06:51

Perth - South Africa's debate on the question of nationalising mines is discouraging investment but the policy will be clear by mid-2012, an adviser to Mines Minister Susan Shabangu told reporters on the sidelines of a mining conference on Wednesday.

"The matter will be put to bed by July next year when the ruling party holds its policy conference whereupon the issue will be debated, discussed and perhaps will be adopted or not," adviser Sandile Nogxina said.

Earlier in the day, Nogxina said a task force set up by the ANC to look at nationalising the country's mining industry was scheduled to report its findings by the end of 2012.

But Nogxina made clear that the task force will not be developing a policy on nationalisation.

"Nationalisation is not policy for South Africa and there is no government process that is formulating a policy on nationalisation," he said.

Uncertainty on the role of nationalisation in South Africa will likely keep investors worried until the issue is resolved.

"As long as the debate continues and as long as it is not clear as to what the ultimate outcome of this process is going to be, I believe that there will always be some concern... and I believe it is justified," Nogxina said.

The comments came as ANC Youth League leader Julius Malema, an outspoken advocate of mine nationalisation, faces a party disciplinary hearing.

On Tuesday, police used stun grenades and water cannon to disperse thousands of Malema supporters.

Malema has no direct policymaking power but is one of the ANC's most popular politicians. He has won admiration among millions of poor South Africans and alarmed investors with his calls to nationalise the mines.

Some fear nationalisation could bankrupt the country and destroy its credibility among investors. But the idea resonates with the poor black majority, who see it as a way to spread the wealth from a sector that grew powerful along with apartheid rule.
 

Comments
  • mal.emmer - 2011-08-31 08:10

    President Malema will decide, not Minister Shabangu (who is she?) One of Zooma's cronies. Also ran away overseas like Zooma and Kgom-whoever

      Sick - 2011-08-31 13:09

      You are talking nonsense - President Malema se gat. South AFrica will rue the day he ever becomes President - he a disgrace to this country and South Africans.

      Together - 2011-08-31 13:32

      Yup, and probably attended a university where she worked hard to learn how things really work. And then brought that knowledge and experience back to SA when she could have used it right there. And now, because she doesn't agree with a mob and lie to herself about reality, you criticise her? Sadly, she will remain faithful to her party. Pity you don't have just a little of her loyalty and wisdom.

      caryn.dawson - 2011-08-31 22:41

      Dude seriously - mad.bucket kinda says it all don't ya think???

      ProudWhiteAfrican - 2011-09-05 14:44

      "President" Malema. Hee hee, I don't think so - you are delusional like your imaginary president. And don't call him a "├┐oung lion" either. A lion is a beautiful, brave, majestic creature not a thug with a distorted vision and inflated ego.

  • Nasdaq7 - 2011-08-31 08:48

    The ANC must decide very carefully how it handles the situation because it can make or break it as a political party.

  • patrickb - 2011-08-31 09:37

    "Some in South Africa fear.." We do not fear that it will bankrupt the country, we KNOW it will! The ANC's record speaks for itself.

      Aswatas - 2011-08-31 13:30

      Amen

      Eugene - 2011-08-31 20:25

      And that then gives them a convenient excuse to "nationalize".

      ProudWhiteAfrican - 2011-09-05 14:15

      Well said patrickb!

  • Cui Bono - 2011-08-31 10:08

    Yup - the debate will be resolved but only after another 100 000 people are put out of work ... ANC must get with the program fast and focus on what is important and get rid of those who are not, because the clock is ticking ....

  • chuckynoris - 2011-08-31 10:16

    Onyeani was asked in an interview the question of what is stopping blacks from doing what they need to do? He replied simply "inferiority complex".[9] Continental Africans think the world owes them something. We whine and whine about how the Europeans looted our natural resources. Yes, they did, so what? We allowed them to do it, and we are still allowing them to do it even today. There is too much whining among Africans, Blacks, continental Africans and Africans in the Diaspora - whine, whine, whine ad nauseam. We are beggars. We beg for everything. If you need something, be a man. Go and get it! Don't start whining for somebody to do it or get it for you. (Capitalist Nigger, page 35).

      Sick - 2011-08-31 13:07

      Absolutely love what you've said - so true!

      Aswatas - 2011-08-31 13:29

      Like the chinese said...BE A MAN lol

  • chuckynoris - 2011-08-31 10:17

    http://www.youtube.com/watch?v=17m8OnHC7dQ

  • Savage - 2011-08-31 10:17

    Surely this should be fast tracked. This indecision is killing foreign investment, 77% Drop from last year.

  • Spyker May - 2011-08-31 12:15

    What a poorly written article...

      Together - 2011-08-31 13:29

      Since when was this ever a 'debate'? On one side you have the least experienced and qualified people shouting at everyone that nationalisation will make all poor people rich overnight, and on the other side you have qualified people who can't get a word in edgewise. This is a monologue with a captive audience.

      rasklot - 2011-08-31 20:04

      Totally agree Spyker, I did a second speed read to make sure I did not dose off and miss an important point.

      Eugene - 2011-08-31 20:23

      Yes Together, I also wonder what is the purpose of debate here. Nationalisation is a set and core ANC policy, no matter what anyone says. Talks of "reconciliation", "freedom", "constitutional rights" were just a smokescreen for what the ANC really wants to do.

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