EFF to nationalise mines and banks

EFF Leader Julius Malema says his party will nationalise natural resources to improve the lives of the poor.

Economic Freedom Fighter's leader Julius Malema launched the party's manifesto on Saturday in Tembisa. Picture: EWN

JOHANNESBURG - Economic Freedom Fighters (EFF) says when elected the banks, mines and agriculture will finance its promises to increase the salary of workers, cut electricity costs and provide free education until post-secondary qualification.

The party launched its election manifesto in Tembisa on Saturday, stating that 20 years into democracy, little has changed to improve people's lives.

The EFF says it will nationalise the Reserve Bank, create a state-owned bank and nationalise private banks.

Apart from this the party also plans to nationalise the mines to ensure 60 percent of existing mines and mining activities are owned by the state and communities where mining activities occur.

EFF Leader Julius Malema addressed the crowd.

"Those that say we are unrealistic, tell them we have extra cash from our mines and our land. All those monies will not go to politicians."

The EFF's aim is to use the money to benefit the poor and improve the lives of Africans.