Former Minister Trevor Manuel has questioned the logic behind President Jacob Zuma’s views on white monopoly capital.
During a community engagement earlier this week, Zuma emphasised that white monopoly capital is a reality in South Africa.
Manuel has however backed former President Thabo Mbeki’s views on the matter.
Addressing a Mandela Day Lecture in Nyanga earlier this week, President Zuma shared his sentiments on white monopoly capital.
“The patterns of ownership and management and control so that it’s not done by a few which we call white monopoly capital… those who say it does not exist, they live in another country.”
But in a Q&A session during a talk titled "Students as Active Citizens in Society" at Stellenbosch University on Wednesday night, Manuel sought factual backing on Zuma’s remarks.
“There are no signs to that statement that say produce the evidence. If you want to change you must be able to target your efforts.”
The African National Congress, at its national policy conference earlier this month, agreed not to use the term to describe problems in the economy.
WHITE MONOPOLY CAPITAL NOT THE ENEMY
Former President Thabo Mbeki last week said that white monopoly capital was not the enemy and that some people are abusing the term because it's a sexy and popular slogan.
The former president seemed to take a jab at President 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.