Ebrahim Moolla cautions a deeply divided South Africa not to be blinded by avarice...

I am a rapist.

I am a murderer.

I am a cash-in-transit highwayman.

You remember the mysterious third force that destabilised the nation before the '94 elections? That was me.

I am all of these sinister characters because I turn away from the hungry stares when I walk home with my Woolworths groceries.

In a country pockmarked by such vast disparities between the have and have-nots, everyone is a criminal. In terms of the Gini co-efficient, a global index of inequality, SA ranks a lowly 122 out of 177 nations, just slightly ahead of Zimbabwe and Myanmar. This figure is borne out in the first world enclaves in this lopsided city of Cape Town, where obscene wealth is literally across the road from gulags without even the most basic utilities.

In a time when that great bastion of ultra-capitalism, the USA, is resorting to red-tinged strategy under the guise of 'bailouts', it doesn't ask much of the intellect to realise that this abject status quo will not sustain a peaceful society.

I’m not naïve enough to be a utopian communist and am well aware of the pitfalls of a science, in practice, marked by gross inefficiency and widespread corruption. Under that system, I wouldn't be able to say mining magnates Nicky Oppenheimer and Patrice Motsepe deserve to be pilloried. But I also refuse to acknowledge that meritocracy — the central tenet of capitalism — is anything but a fallacy.

Very few people are true blue reds or out-and-out free marketers. In the absence of a third way, I would have government seek to restore a balance by partnering with communities and mining corporates. Africa's richest tribe, the Bafokeng, have banked half-a-million dollars from their platinum co-operative. We don't need to look north for answers, but instead, find African solutions to our specific problems, chief among them, the staggering unemployment figure.

A lot has been said about the 'brain drain' and how immigration of skilled labour is holding back the economy. What of the massive untapped pool of humanity floundering in that torturous whirlpool called poverty? How many brilliant minds, athletes, philanthropists with the capacity to transform the landscape have escaped the development net?

The stats place SA's population at around 50 million — I'd venture a figure far, far lower than that. Mining may be the lifeblood of the economy but this country's most precious resource is human.

South African mines are the deepest and therefore the most dangerous in the world. In my time as iafrica.com business editor, mining deaths have become so commonplace as to not even register anymore. In a sector that contributes a significant percentage of the GDP, the hard hats earn a pittance for their long hours of toil. If democracy is founded on the principles of liberty, equality and justice, miners are being royally shafted on three counts.

The ANC shouldn't have to be reminded that Jacob Zuma was elected on the shoulders of the ANCYL, SACP and Cosatu, all which have come out in support of nationalisation. SA is much like an abused child, growing up to torment its own offspring. Africa the raped; Africa the rapist.

It is said that the only thing that gleams brighter than a flawless diamond is the glint of greed in the prospector's eye. Let's not be blinded by avarice.

Meriza La Key reckons that nationalising our mines will have South Africa heading in the same direction as its northern neighbour…

ANCYL leader Julius Malema's latest bugbear — the nationalisation of the country's mines — in line with the ANC's Bible, err… Freedom Charter has the potential of reverting the country back to oppressive ways faster than you can say 'we will kill for Zuma'.

South Africa's economy thrives on its mining industry, which contributes a massive 18 percent or $588-billion to the country's GDP, and constitutes almost 50 percent of the world's gold reserves. The significance of a state-owned mining industry is beyond imagination. One cannot begin to fathom the magnitude of power government will acquire — locally but also globally — should this be realised.

We need not look far to see the dangers of state-owned entities. Zimbabwe's controversial land reform and mine seizure laws have practically brought the 'bread basket of Africa' to its knees. All Zimbabwean gold must now be sold through the country's Reserve Bank which in turn passes on earnings to the mines. This has proved to be a sure-fire recipe for disaster, as by late 2007 the Reserve Bank owed an estimated $30-million to mining companies. Gold production plunged to about 265 kilograms a month, down from a peak of 2.2 tons a decade ago, losing the country an average of $54-million a month at current world gold prices.

Unless our government plans to go the Zimbabwean route and obtain local mines forcefully, the state will have to fork out heavy bucks to compensate existing owners. And since the majority of shareholders are foreign investors, government will be under pressure to reimburse at near market-related prices. Taking our current account deficit for the first quarter of 2009 of more than R50-billion into account, it's difficult to imagine where such monies will come from.

If history is anything to go by, the government has proved itself inept at running a successful business. State-owned diamond mine Alexkor, in the Northern Cape, ran at a loss for five consecutive years before seeing a profit for the first time in 2002. Not to mention all the parastatals — Eskom, SAA, SABC, Transnet and Denel — which are still running at huge losses despite annual governmental cash injections.

The repercussions of a state owned mining industry are beyond imagination. Like our neighbour, the country will inevitably face a devalued local currency; high levels of poverty; skyrocketing inflation; international sanctions; and will become just another failed African state where the only winners are the greedy politicians. If such desire and hateful ambition comes to pass, then we can wave democracy goodbye.

Do you agree with Ebrahim or Meriza? Share your thoughts below…

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