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Phosa - ANC won't nationalise economic sectors

Despite calls from militant youth groups and unions, the government will not nationalise any businesses says Mathews Phosa, treasurer general of the ruling African National Congress, according to a Mail & Guardian report.

23 May 2012

The Mail & Guardian reports that earlier this week Phosa addressed delegates from the Progressive Business Forum (PBF) in London, and confirmed that the ANC intended to debate the report that it received on nationalisation at its elective conference in December.

According to the Mail & Guardian report, in October last year Phosa reassured the PBF that nationalisation was not ANC policy and he repeated this assertion in November when he addressed a group of European ambassadors and high commissioners. Phosa says that South Africa was a favoured destination for British companies that want to bring their expertise to Africa and, he says, South Africa wants to retain that status.

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