- “The National Union of Metalworkers on Monday called for the nationalisation of the wealth of South Africa’s richest man, Patrice Motsepe, and ANC struggle hero Tokyo Sexwale.
This comes after South Africa’s ‘Rich List’ was published by the Sunday Times on Sunday.
The list, compiled by Who Owns Whom, showed that Motsepe was the richest South African with R14.2 billion.”
The call to nationalise the mines — even after their contracts expire — has no place in modern economics. The examples of failures and disinvestment speak for themselves.
The call to nationalise the wealth of individuals based upon a reference to a freedom charter, which can firstly be interpreted in a number of ways and secondly arose decades ago on a different economic planet, is quite frankly galling.
“Why should such massive wealth be in the hands of private individuals?” asked Ngobese.
“We strongly believe that our National Democratic Revolution (NDR) as encapsulated in the Freedom Charter was never meant to reproduce or replace a white capitalist class with a black capitalist class or co-opt connected politicians to join exploiters.”
“He said the NDR has always been ‘anti-imperialist and anti-capitalist’.”
(Castro Ngobese)
Perhaps Mr Ngobese might give consideration to what happens to a society where there is nothing to aspire to.
It failed in the USSR and is quickly being rejected by the Chinese.
“This then calls for the radical and revolutionary agenda to be championed by the broad movement as led by the ANC to transfer the wealth of our country to the hands of the people as a whole, as opposed to a selected few.”
“He said failure by the African National Congress to transfer the wealth will lead to an upsurge of service delivery protests.”
(Castro Ngobese)
I hate to break this to Mr Ngobese but the failure to give adequate service delivery is down to corruption, negligence and even criminal conduct primarily among the very people who would get their hands on the wealth of the individuals concerned.
R50 billion on this arms deal, a few more on social grants, every chappie gets a R1 million motor and so on and so forth ad nauseum.
If they happily take it from the taxpayer why would milking the money from our wealthy be any different?
The poor would get — as always — sod all.
No the best bet for prosperity is giving big business the backing of government and not a reason to get the hell out of Dodge. At least they know how to create wealth rather than just spend it on themselves.
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BTW Perhaps Tokyo or Patrice want to buy a Lamborghini Gallardo LP560-4 2009 Siyabonga and I just reviewed it.
A prince with dignity and determination
Prince Ngarambe’s goals are to become Rwanda’s first transgender model and to uplift the country’s youth
The EFF’s principles are unshakeable
Unlike the ANC, the core values of the freedom fighters do not change with each leader it elects
