IN QUOTES | Malema on disrupting the economy, land expropriation and recession

06 March 2020 - 06:54 By Unathi Nkanjeni
EFF leader Julius Malema addressing the Black Business Council annual summit in Johannesburg.
EFF leader Julius Malema addressing the Black Business Council annual summit in Johannesburg.
Image: EFF via Twitter

EFF leader Julius Malema says confrontation and disruption is the only way to transform SA's economy.

Addressing the Black Business Council annual summit in Johannesburg on Thursday, Malema debated socio-economic transformation and inclusive growth in SA.

Here are six quotes from his address.

On being comfortable

“You seem to be extremely comfortable to manage the economy of white people.

“Many of you do not engage critically against the status quo with the hope that you will be called upon to serve on a particular board or to chair a particular board.”

Sweet talking the status quo

“You want to be in the good books, at the same time you claim to be advocating for transformation in business.

“You will never transform it if you are going to sweet talk the status quo.”


“There is no way we can transform this economy without disrupting it.

“We need to expropriate our land without compensation because when they [white people] came here and took our land they never paid any compensation. It was taken through black genocide.”


“This is the third recession since 1994 and we have had two of these recessions under the New Dawn with investment summits and investment pledges.

“All the sectors that are supposed to form the core of industrial policies suffered negative growth ... manufacturing, electricity, gas, water, transport, communication, agriculture and trade. Even the government suffered a negative growth of 0.4%.”

ANC must take some responsibility for technical recession

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New Dawn

“Under the New Dawn more than R700m invested in research is being reduced to a mere R100m.

“How do you compete for international contracts in innovative spaces when you are sitting with old research and ending very beneficial relationships with institutions like the CSIR? If it was [Jacob] Zuma withdrawing all of this investment, they would have said he is uneducated.”

Ministers who say nothing

“Those who are responsible for growing the economy are living in their own bubble of hallucination and ignorance. The minister of finance says we have a strong economy and we will bounce back.

“The governor of the Reserve Bank must listen to the minister of finance to avoid crisis, but the reality is that we can't listen to ministers who say nothing.”