14/12/2017 16:55 SAST | Updated 15/12/2017 05:38 SAST

Monopoly Capital Back On Agenda At ANC Conference

'We cannot ignore the colonial culture of capital in South Africa.'

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Nathi Mthethwa addresses the media during the African National Congress' (ANC's) 5th national policy conference at the Nasrec Expo Centre on July 03, 2017, in Johannesburg.

Monopoly Capital Back On Agenda At ANC ConferenceThe ANC will continue the debate on business monopolies and how to reverse concentration within South Africa's economy when it sits for its national conference in two days.

Speaking to the media ahead of the conference, chairperson of the ANC NEC's subcommittee on political education Nathi Mthethwa said one of policies that the ANC will focus on is the concept of monopoly capital, or –– as it was commonly termed and hugely contested at the party's policy conference in June –– "white monopoly capital".

"Monopoly capital is a concept of general and political economies to describe manifestations of capitalism at a certain state of development, as well as the levels of centralisation and concentration of capital and the conduct of dominant entities in a variety of national and global settings," he said.

"The approach of the ANC towards monopoly capital... is accurately captured in the 2007 strategy and tactics document... the contextual issues are also critical in improving our understanding of the situation in order to develop a proper diagnosis."

Mthethwa said it is "inescapable" that South Africa is impacted upon by globalisation on various fronts.

"Monopoly capital in South Africa historically, and even today, is overwhelmingly white and male. We cannot ignore the colonial culture of capital in South Africa," he said.

According to EWN, Mthethwa also said the concept of monopoly capital altogether -- irrespective of its 'colour' -- is an antithesis of what the ANC stands for.

The conference will also focus on ways to rebuild the relationship between the ANC and its alliance members.

"The difficulties experienced by Cosatu should include the roles played by both the [South African Communist Party] and the ANC in this regard. What role did they play in the weakening of [Cosatu]? The ANC must strengthen the campaign by Cosatu," he said.

"The fundamental task of the current movement is to enhance the ANC's organisational integrity, for it to lead society and intensify action towards a national democratic society... The strategic goals of the ANC and the national democratic society we are building are informed among others by a combination of the best attributes of a developmental state and social democracy."