ANC Policy Conference commissions reject 'white monopoly capital'

ANC policy guru Joel Netshitendze reported back on the Strategy and Tactics Commissions.

"Do we want to characterise monopoly capital, as it manifests in South Africa, as white monopoly capital? Nine out of those 11 commissions said the phenomenon of monopoly capital is a global one and it manifests itself differently in various parts of the globe," says Netshitendze.

"In that context it would, therefore, not be correct to characterise our simply as white monopoly capital."

The ANC's Policy Conference has affirmed its 2007 resolution that white monopoly is an incorrect explanation of economic dominance. 

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Netshitenzhe says while there are many forms of monopolies in the world, the economic dominance enjoyed by white South Africans cannot be ignored.

He branded the relationship as one of co-operation and contestation.

"It was felt that we also need to elaborate in that context that in the South African situation, we cannot run away from the reality of white dominance in the economy in the context of assets, income and other privileges that we have inherited from the past."