Cyril is ringmaster in our tragicomic national circus

He may yet, in 2024, lead the ANC to its first national electoral defeat

24 December 2021 - 00:01

President Cyril Ramaphosa ends his political year on a precarious note. Not because of the Omicron variant. And not because Iqbal Survé’s newspapers have released a recording of an ANC national executive meeting where he can be heard admitting the party is funded by state-owned enterprises (SOEs).

We knew that. The party’s insistence that it sits at the centre of a mixed economy has nothing to do with industrial policy or ideas about the entrepreneurial state. It is simply a mechanism to finance a party that has an impoverished constituency. In the recording Ramaphosa deliberately concedes this. It is not something you say to a large group of people during a Zoom meeting and not expect to leak. The sad thing now for the ANC is that the SOEs have been so badly run they no longer produce any money for the party...

This article is reserved for Sunday Times subscribers.

A subscription gives you full digital access to all Sunday Times content.

Already subscribed? Simply sign in below.

Registered on the BusinessLIVE, Business Day or Financial Mail websites? Sign in with the same details.

Questions or problems? Email or call 0860 52 52 00.