Monopoly capital not colourless – it’s white‚ says Mthethwa

14 December 2017 - 16:43 By Penwell Dlamini
Nathi Mthethwa. File photo.
Nathi Mthethwa. File photo.
Image: Trevor Samson

Monopoly capital is a reality‚ it is white and stands against all that the African National Congress hopes to achieve in South Africa.

This was among the comments made by ANC NEC member Nathi Mthethwa when he presented the policy document on strategy and tactics to journalists in Luthuli House on Thursday.

The document was presented at the mid-year policy conference and provinces have been given time to make inputs before it gets adopted at the elective conference starting in Nasrec on Saturday.

“The approach of the African National Congress towards monopoly capital and capital in general is accurately captured in the 2007 strategy and tactics document…It is inescapable that South Africa is impacted upon by globalisation at various fronts‚ especially monopolistic corporations.

“Monopoly capital in South Africa‚ historically and even today‚ is overwhelmingly white and male…The point which was emphasised here is that we cannot ignore the colonial character of capital in South Africa.

“White monopoly capital has close links with regard to both ownership and control‚ to global multinational corporations. This is no intention to conflate monopoly capital with the reality of white dominance in the economy.

“The point we are making here is that when it comes to monopoly capital‚ it really doesn’t matter the colour. Whether it is black or white. The phenomenon and the concept itself is an antithesis of what the movement stands for. Even if tomorrow‚ South Africa develops or whatever happens and then you have black monopoly capital‚ still that would not be in sync with what the ANC stands for‚” said Mthethwa.

He added that the ANC could not overlook what is happening in the country because of the past that South Africa has.

Mthethwa rejected views that white monopoly capital was a new concept which had been recently developed.

“If you go to the road to freedom of the SACP in 1962‚ you will find this expression white monopoly capital in South Africa. If you go to Morogoro conference in the statement by [then] president [Oliver] Tambo you will find this. In 2007‚ in October‚ in Durban‚ the general secretary of the SACP alluded to white monopoly capital. It can be true that it is something which is coming now.”

He added that despite that‚ there are some who believe that white monopoly capital is being used to protect other wrong doings‚ the concept itself was still a reality which the ANC must deal with.

“You can’t go to Europe and talk white monopoly capital. Because everything is white there. When you come to South Africa‚ the charactisation of South Africa as a colonialism of a special type which cannot be compared to any colonialism‚ anywhere in the world. Here is the situation where both the coloniser and the colonised share the geographical space. The coloniser having adopted exclusively the home of the colonised as his home as well…It can’t be true that you have a colourless monopoly capital in South Africa. You just have to look around you‚” Mthethwa said.

Among the proposals in the document to deal with white monopoly capital are to strengthen organisations which deal with industries and enable them to “discipline capital”.