POLITICS

Mayihlome Tshwete On Renaming White Monopoly Capital: You Can't Really Speak About It Because You Are Married To It

So we can name black economic transformation but we can't name what it is a response to? 🤔

05/07/2017 15:25 SAST | Updated 05/07/2017 15:25 SAST
Instagram/ MayiTshwete

Finance ministry spokesperson and African National Congress member Mayihlome Tshwete is not happy with his party's discussion on white monopoly capital.

The ANC on Tuesday had a debate on whether or not white monopoly capital exists. ANC national executive committee member Joel Netshitenzhe, who was former president Thabo Mbeki's policy chief, told the media that monopoly capital was a global phenomenon and could not be classified as white.

On Wednesday, Netshitenzhe, was asked to take back what he said as it was a misrepresentation of the committee's findings, but he refused to.

Tshwete said in his Instagram story that it was unbelievable that there was even a debate on whether white monopoly capital existed or not.

"In 2017, we really had a debate about whether or not there's an existence of white monopoly capital. Yo! Yinde lendlela," he said.

Tshwete pointed to the ANC's ability to recognise the need for transformation.

"Basically we are quite comfortable with naming 'black economic transformation'. We are comfortable with speaking about affirmative action, which is about blacks taking certain jobs. We are quite comfortable speaking about transformation," said Tshwete.

And pointed to the failure to name why South Africa needed to have transformation at all.

"At the same time, you shouldn't speak about what we are responding to. We shouldn't speak that the economy is white-owned, we shouldn't say that all of these interventions are a response to the reality of a white-owned economy. That's the logic," he said.

Tshwete said it was as if the ANC was denying the reality of people's experiences.

"We went on, like, a family getaway as the ANC, and we came back and said: 'What we are experiencing day to day is not really what we are experiencing day to day of white monopoly capital'," he said.

And then he ended it off with a conclusion for why members of the ANC might deny white monopoly capital and rather seek to generalise it.

"We get it. You can't really speak about it because you are married to it. You're a partner. You're a minority partner, so you can't. You can't criticise your majority partner. I get it. Cool," he said, ending the story.

Mic drop. Head on over to his Instagram before the story disappears.