Mbeki: White monopoly capital isn’t the enemy

Former President Thabo Mbeki says that there must be an understanding of what’s happening to the South African capitalist economy.

FILE: Former President Thabo Mbeki participates in the National Foundations Dialogue Initiative. Picture: Christa Eybers/EWN

JOHANNESBURG – Former President Thabo Mbeki says that white monopoly capital is not the enemy and that some people are abusing the term because it's a sexy and popular slogan.

Mbeki was interviewed by Power FM chairperson Given Mkhari last night in Sandton.

The former president seemed to take a jab at President Jacob Zuma, who told the MK military veterans last month that white monopoly capital is the enemy of the national democratic revolution.

“So when somebody comes to you to say the principal enemy of the national democratic revolution is white monopoly capital and things like that. I know the role of monopoly capital.”

He says people must be careful of describing white monopoly capital as the enemy.

“Who is this enemy? You’re obliged to say the Rupert’s and others.”

Mbeki says there must be an understanding of what’s happening to the South African capitalist economy.

“Because if we misdiagnose the problem, the cure is going to be wrong.”

The former president says people must avoid being driven by popular slogans.

(Edited by Leeto M Khoza)