JOHANNESBURG – Controversial politician Julius Malema on Tuesday confirmed he is creating a new political formation called Economic Freedom Fighters.
He says the ANC has demonstrated it is committed to a neo-liberal right wing capitalist agenda.
The expelled ANC Youth League leader says his party will create radical change because the current system will only entrench poverty.
On Tuesday morning, Malema refused to discuss reports that he was starting a new political party.
But he has now released a statement confirming he will hold consultative forums across South Africa.
He says the ANC can never produce sustainable solutions to the country’s economic problems because of its ideological zigzags.
Malema says the ANC is losing credibility and opposition parties are fighting superficial issues.
He believes if people do not stand up, South Africa will turn into a kleptocracy resulting in government officials looting state coffers.
But Malema himself is facing corruption charges stemming from claims he manipulated government tenders in Limpopo.
On Monday, Malema’s Schuilkraal farm in Limpopo was auctioned off for R2.5 million to pay his tax bill.
In May, he lost his half-built Sandton house after it was sold for R5.9 million.
He reportedly owes the taxman R16 million.