Analyst reactions differ on 'white monopoly capital'

NEC member, Joel Netshitenzhe told reporters yesterday that nine out of the 11 commissions at the ANC policy conference had felt that while monopoly capital was a serious issue - its characterisation as white was also problematic.

Economist, Mike Schussler feels the move bodes well for investment.

"Marxism talks about monopoly capital - it does not give capital a colour. Secondly in South Africa's case, 40% of the shares listed on the JSE are owned by foreigners. Yes, there are many rich white businessmen and women in South Africa. These days there are as many people of colour coming through," he said. 

But political analyst Aubrey Matshiqi doesn't agree, saying the ANC has once again compromised itself in order to appease the minority.

"There's nothing that goes against the concept of non-racialism by using the term 'White Monopoly Capital'. It's a reality and it should be called what it is," he said.