Former Finance Minister Pravin Gordhan has been accused of pushing a factional agenda during a debate on state capture at the Univeristy of Johannesburg.
He was speaking alongside his former deputy Mcebisi Jonas on Wednesday.
On several occassions students heckled Gordhan, accusing him of being disingenous on his views about who dominates the country's economy.
"You can't come to South African and tell them that their enemies are colourless monopoly capital. Who has our things? Mr Pravin, you know. You sit on the boards of these global and multinational companies... who has the land today?"
Gordhan tried to draw correlations between state capture and the current African National Congress (ANC) leadership but was booed.
"Stealing of certain institutions in the state by a small group of people, who's only intention is to put money into their pockets in South Africa or into bank accounts in Dubai or anywhere else. It's a simple proposition, so state capture, to those of you who are booing me, means that you approve of state capture."
The minister conceded that the economy hasn't been transformed and needs to be restructured, made more dynamic, diverse and competitive to serve citizens.
But he says that South Africans need to be careful about how they use the term "radical economic transformation", as it can be used to mask stealing.
"And the developmental state's mission is very clear: help the poor, grow the economy, ensure that we have a progressive tax system. ensure that the distribution of the taxes benefits the majority of the citizens and not a small group of people."