Malema: Mbeki wrong to deny existence of white monopoly capital

EFF leader Julius Malema says Thabo Mbeki’s denial of the concept is a factional battle.

EFF leader Julius Malema addresses the crowd at the party’s fourth anniversary in Durban on Saturday afternoon. Picture: Ziyanmda Ngcobo/EWN.

JOHANNESBURG - Economic Freedom Fighters leader Julius Malema says former president Thabo Mbeki is wrong to deny the existence of white monopoly capital and is merely distorting facts because of factional battles within the African National Congress (ANC).

Malema was speaking at the party’s 4th birthday celebration at Curries Fountain in Durban on Saturday afternoon.

The red beret leader has used the commemoration to discuss a wide range of issues, including the motion of no confidence in President Jacob Zuma in August, urging South Africans to join in a nationwide shutdown.

Malema says the concept of white monopoly capital comes from the EFF.

“There is white monopoly capital, President Mbeki is wrong. Who owns the land, the shops and the factories in South Africa?”

Malema says Mbeki’s denial of the concept is a factional battle.

“When you fight your factional battles, do not distort the truth; whites are monopolising our economy.”

The eff has reiterated that the removal of Zuma does not mean the ANC will be ousted because that will be done properly at the ballot box in 2019.

(Edited by Winnie Theletsane)