Nationalisation misunderstood - ANCYL
The ANCYL says the ruling party was not ambiguous about its nationalisation stance.
JOHANNESBURG - The ANC Youth League (ANCYL) on Wednesday said there has been a misunderstanding on the ANC’s stance on nationalisation.
The ANCYL claimed many parts of South African society and business did not properly understand the party’s views on nationalisation and state intervention in the economy.
It claims that the party was unambigious at its recent policy conference held in Midrand.
The league said mine nationalisation and greater state intervention in the economy will be ANC policy after its Mangaung conference in December as decided in the policy conference.
But in the ANC economic transformation commission, resolution said the conference rejected wholesale nationalisation, but it would strengthen the existing state owned mining company, African Exploration Mining and Finance Corporation.
The league's spokesperson Khusela Sangoni said the policy conference made an important decision.
“We are not going to wake up tomorrow and nationalise everything, but particular industries and companies like ArcelorMittal meet the criteria of nationalisation.”
(Edited by Zethu Zulu)