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Mbeki condemns private sector in latest newsletter

Thabo Mbeki defended some of his economic policies under the GEAR and RDP programmes.

Former South African President Thabo Mbeki. Picture: Facebook.

JOHANNESBURG - Former president Thabo Mbeki says people who attack his economic policies as neo-liberal should instead look at the impact of what he calls a private sector investment strike.

He's defended some of his economic policies under the GEAR and RDP programmes in a new newsletter published today.

The former president quotes at length from media articles suggesting South African companies are buying firms overseas but are not investing their cash here.

He then says that instead of throwing around the neo-liberal swearword, perhaps there should be a serious assessment of the impact of the private sector investment strike, while the RDP and GEAR policies were being implemented.

Mbeki appears to be criticising the private sector for not investing in the South African economy.

He then goes on to refer to what the African National Congress (ANC) calls 'colonialism of a special type during apartheid' when colonisers lived in the same space as the colonised.

Mbeki asks if the ANC perhaps made as serious mistake in not realising that colonialism of a special type would also be informed by capitalism of a special type.