'Land restitution failed because Government is the biggest owner of land'

In an opinion piece published by the Sunday Times, Finance Minister Malusi Gigaba’s new economic advisor Professor Chris Malikane proposes a new economic plan that includes the “expropriation of white monopoly capital establishments such as banks, insurance companies, mines and other monopoly industries to industrialise the economy”.

The Ministry of Finance has since distanced itself from the piece.

The Money Show’s Bruce Whitfield interviewed Malikane.

He also spoke to Business Leadership South Africa (BLSA) Chairperson Bonang Mohale.

BLSA on Sunday published advertisements in a number of newspapers, beseeching the ANC and its alliance partners to “exercise their conscience” to stop state capture.

Click here to read the full text contained in the advertisements.

Listen to the interviews in the audio below (and/or scroll down for quotes from it).

The land was taken by force; it’s high-time we redress that historical injustice.

Professor Chris Malikane, Wits

The mines has two functions. They produce minerals and earn monopoly profits.

Professor Chris Malikane, Wits

Nationalisation has worked in India. More than 75% of mining operations there are run by state-owned companies. China is another case in point. You see the heavy role of the state. The same in South Korea and Singapore…

Professor Chris Malikane, Wits

One of the challenges that Eskom has, is the price of coal… New Zealand has nationalised coal…

Professor Chris Malikane, Wits

I wrote this piece before I became appointed.

Professor Chris Malikane, Wits

This article has made the job of the Minister of Finance more difficult.

Bonang Mohale, Business Leadership South Africa

This government already owns six banks! Why would they want to nationalise more banks!

Bonang Mohale, Business Leadership South Africa

The reason why land restitution has failed is because the biggest owner of land is Government.

Bonang Mohale, Business Leadership South Africa

If Government wanted radical economic transformation it would’ve given the land that it already owns to these communities!

Bonang Mohale, Business Leadership South Africa

The poor minister and his deputy are doing their absolute best, but they jumped into a poisoned well. I pity them!

Bonang Mohale, Business Leadership South Africa

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Ford South Africa recalls 15 600 Figos and Ikons (built between 2004 and 2012)

Ford South Africa recalls 15 600 Figos and Ikons (built between 2004 and 2012)

Please share this with your Ford-driving friends. Fire hazard, again! They must "immediately” contact a dealership.

Sygnia donates 100% of money market management fees to fight corruption

Sygnia donates 100% of money market management fees to fight corruption

State Capture… Corruption… it just goes on and on! The Money Show’s Bruce Whitfield interviews Sygnia CEO Magda Wierzycka.

Stuttafords dies on 1 August. There are lessons to learn

Stuttafords dies on 1 August. There are lessons to learn

The 159-year-old icon failed to evolve. Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.

Bitcoin may (or may not) be a bubble. Check this out before taking the plunge

Bitcoin may (or may not) be a bubble. Check this out before taking the plunge

Is the spectacular rise in the value of Bitcoin realistic? Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.

Here’s what it’ll take for South Africa to rise from junk status…

Here’s what it’ll take for South Africa to rise from junk status…

It’s hard, but not impossible. Arabile Gumede interviews Argon Asset Management Economic Strategist Dr Thabi Leoka.

'We need 50 brave souls in the ANC to vote with their conscience'

'We need 50 brave souls in the ANC to vote with their conscience'

"We know people are scared. They [ANC MPs] need to see that South Africa is behind them," says Sygnia's Magda Wierzycka.

Popular articles
Two dogs allegedly jumped a fence, viciously attacked 3 year old and her grandpa

Two dogs allegedly jumped a fence, viciously attacked 3 year old and her grandpa

The two dogs belong to the family's neighbour are believed to be a rottweiler and pit-bull.

5 facts about the new SA number plates being implemented this year

5 facts about the new SA number plates being implemented this year

No official date has been set for the roll out of SA's new number plate legislation, but here's what you need to know so long.

In case you hadn't noticed, Cape Town feels freezing cold (and here's why)

In case you hadn't noticed, Cape Town feels freezing cold (and here's why)

Capetonians are pulling out hot water bottles and mittens as a cold front is predicted to make landfall on Thursday morning.

Ntsiki Mazwai gets behind 24 hour social media boycott #DataMustFall

Ntsiki Mazwai gets behind 24 hour social media boycott #DataMustFall

Ntsiki Mazwai is asking South Africans to stay off social media on Wednesday in a #DataMustFall campaign.

CAPS is killing teachers passion - caller

CAPS is killing teachers passion - caller

CapeTalk caller says Curriculum Assessment Policy Statements (CAPS) is not good for South Africa's education system.