Nationalisation off the table - ANC

The ANC has rejected the wholesale nationalisation at its Mangaung conference.

The ANC has rejected the wholesale nationalisation concept at its Mangaung conference. Picture: ANC

MANGAUNG - The African National Congress (ANC) on Thursday said wholesale nationalisation was off the table.

But the ruling party said it will maintain the right to take strategic ownership of certain sectors where it might be deemed necessary.

ANC officials spent Thursday morning reporting back on key policy discussions during the party's national conference in Mangaung.

Public Enterprises Minister Malusi Gigaba discussed the issue of nationalisation.

"The issue of nationalisation, as we have discussed over the last couple of months, is off the table. The ANC reaffirms its position on this topic."

He said when deemed necessary, based on the balance of evidence, strategic ownership will take place as is the case with other economies.

Meanwhile, Economic Transformation Committee chairperson Enoch Godongwana says the National Executive Committee (NEC) wanted to give the National Development Plan (NDP) a special place in this conference.

He said the NDP should become a long-term national vision, coupled with individual and policy intervention.

YOUTH WAGE SUBSIDY

The ANC said it has not ruled out the possibility of introducing the Youth Wage Subsidy.

This despite the Congress of South African Trade Unions (Cosatu)'s opposition to the policy.

ANC delegates said they were deeply concerned about the effects of youth unemployment and called for urgent action to address the issue.

In the ANC's policy documents, various suggestions were made on youth unemployment, but the party failed to disclose which approach it would adopt.

Delegates said there should to be a national social contract between government, business and the youth, to address the matter.

ANC members agree that incentive needs to be given to businesses to encourage them to employ more young people.