White Monopoly Capital Exists – Shame on you Joel



The white monopoly capital denialism campaign reached the highest pinnacle last night. It was  at the end of ANC’s policy conference and commissions were reporting back the outcomes of their discussions. Joel Netshitenzhe rejected the concept of white monopoly capital saying he had not researched it and mumbled something about its origins perhaps having come from the the South African Communist Party in 1962 or even discussed at the ANC’s Morogoro Conference.

He said 9 out of 11 Commissions at the ANC Policy Conference had rejected the idea that monopoly capital in South Africa was purely white. He said it could be Japanese, Indian or any other colour. Netshitenzhe said the delegates had however taken cognisance of the fact that although monopoly capital was a global phenomenon, in the South African situation, whites still dominated the economy in terms of assets, professions and privilege. Monopoly capital is economic domination and if we accept that in South Africa that domination is by white people, it stands to reason that white monopoly capital exists till today.

Many of the ANC members who have come out against the concept of white monopoly capital have stated that it is used by populists to distract attention from the alleged Gupta corruption. They say it was coined by the family’s former public relations company Bell Pottinger. It would have been perfectly alright for Netshitenzhe to say the enemy was no longer just white monopoly capital but now included the Guptas who were implicated in a lot allegations of state capture – if that was a reflection of the commissions. Accompanied by that statement should have been one that accepted that the Guptas were not the only ones involved in state capture but included white monopoly capitalists as well.

It was painful watching Netshitenzhe speak of integrity of the organisation while refuting the existence of white monopoly capital, even pretending not to know its origins. Just last week we published an article by Professor Chris Malikane who was hired supposedly to advise Finance Minister Malusi Gigaba on radical economic transformation. I say supposedly because some in the ANC are even shy to mention the words radical economic transformation these days. In that article he explains explicitly what white monopoly capital is and quotes the numerous ANC politicians who had used the concept in their speeches. In the ANC Discussion Umrabulo Number 1, under the discussion, The National Democratic Revolution: Is It Still on Track, Netshitenzhe writes: “In evaluating whether this still holds, two issues need to be looked at: What does it mean to pursue the NDR? Who stands to benefit from its successes? The fundamental contradiction in South African society is (mainly white) monopoly capital on the one hand and the rest of society (essentially black) on the other“. http://www.anc.org.za/docs/umrabulo/1996/umrabulo1d.html

What is it about some in the ANC that they can truly think this statement by Netshitenzhe in 1996 has fundamentally changed? The economy as recognised by these Commissions, remains in white hands. The bulk of the land still remains in white hands. The only change is that South Africa now has a few black people at the trough with the mainly white monopoly capital.

But then it became even more painful when it emerged that Netshitenzhe distorted the facts on the outcomes of the commissions – that the 9 commissions had rejected racialising  monopoly capital and that it was no longer the ANC’s enemy. Latest media reports say the ANC Steering Committee has ruled against Netshitenze’s statements and it is reported the paragraph on white monopoly capital will be redrafted.

Minister Edna Molewa, in an interview with ANN7, said it was important for a chairperson of a commission to report accurately. She said many people had come to the conference asking for the ANC to restore its integrity. “We therefore cant come here displaying lack of integrity,” she said. She contends that monopoly capital does exist and the ANC has always said that the form it takes in South Africa is white. She made examples of white commercial farmers who organised like a club and refused entry of new entrants into the sector.

Netshitenzhe is highly respected and his credentials impeccable and this issue has put a blemish on his integrity.

Malikane wrote this about white monopoly capital: “The strength of white monopoly capital is that it owns and controls South Africa’s resources and it has strong international backers. The dominance of white monopoly capital in the economy determines the nature of the state and society as a whole, since the existence of the state is supported by the resources monopolised by white capital”.

This statement brings us to the issue of the collusion between politics and capital. I’ve in the past written about the campaign to control the financial sources in the lead-up to the ANC’s leadership contestation. He or she who has access to the most money will use it to buy the highest number of votes. This is a global phenomenon but it’s not always guaranteed. The strategy is therefore to close down all other sources of money that may prop-up the opposition. The ANC has proposals that can ensure that the party unites around its candidates and it must if it is to see a win in 2019. The party is bleeding. It’s fractured. It faces lack of integrity. Netshitenzhe’s stunt will not help build the confidence required going forward.

But the ANC says it is a strong and has a history of the ability to self-correct. We shall see in detail what proposals have been put forward.

Campaign to Deny Existence of White Monopoly Capital

As we’ve written here in several articles, the campaign to deny the existence of white monopoly capital has been steadily waged by commercial media and has in recent months been joined by high profile ANC members including former Finance Minister Trevor Manuel, Secretary General Gwede Mantashe, and others.

Like the collective amnesia that has so become a feature of South Africa, commercial media – which protect interests of capitalists – have gone into overdrive in an attempt to divorce their masters from the concept of state capture. Such is their desperation that they are downplaying whites’ dominance in the economy to a point of renouncing their existence altogether.

The strategy has been two-pronged. A smear campaign against those whose narrative has placed Rupert and rightly so, as the face of white monopoly capitalists and exposed them as beneficiaries of state funds (till today) and looters of ordinary citizens’s coffers (black and white) through their illegal cartel conduct which includes price-fixing, anti-competitive behaviour that seeks to keep new entrants out of entry into the economy and collusion.

The redrafting of the paragraphs in the ANC policy proposals on white monopoly capital following Netshitenzhe’s comments last night is welcomed. The ANC faithful had however been waiting for the proposals to reach their branches so that they could challenge the notion that monopoly capital in South Africa is not white. The ANC has a lot to do than to bicker over the existence of its enemy which it is facing straight on. Ultimately, whether the ANC neo-liberals call the enemy monopoly capital or white monopoly capital or refuse to see it as the enemy at all, the people of South Africa will not accept the slow pace of transformation of the last twenty-three years while their leaders appease their new masters.


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  1. Its really is a shame how this report was manipulated!

    I personaly was part of four of the nine commissions, hence can confirm that the majority was that White Monopoly Capital, is what exists in this country.

    I have proof of these manipulations of the report & I challenged it in commission 3 & 4.

    The comrades that were assigned to record the delegates’ submissions were selective in what they were recording.

    When I demanded to see the recording of previous speakers, this was confirmed, by the script written shown to me, justification given was that they could not write everything, hence they just recorded what was perceived to be important points.

    This resulted is us questioning the intergrity of these reports. More specific the one on Economic Transformation, which dealt with white monopoly capital.

    When Joel was asked to apologise for this wrong reporting on media, he was defiant and refused, but SG Mantashe apologized on his behalf.

  2. Today I am a broken man. I am devastated. Thanks to Joel. I believed and trusted Joel(as a strategist ), for so long. I never thought of him as a sellout. But Yesterday he sold out!!!Capitalism has finally won. I don’t see the ANC implementing Radical socio-economic transformation. Not in my lifetime (I am an old man now) I invested all my life in this organization, only for to fail at last hurdle. Thank you Joel. As I bow out.

    1. Dear Arthur

      As I said in one of the comments, I came home to sleep I felt so exasperated after Joel’s comments. Sad when he struggled to answer a simple question of origins of WMC. This is a man we know as among the brains of the ANC and he mumbled about the origins probably being at the SACP in 1962 or Morogoro – all this when he knew the facts of the origins. He was uncomfortable. And then it emerged he had misrepresented the truth about the commissions definition of WMC. I was really guttered.
      There are a lot things happening at the moment that make me think the fight for the soul of SA’s economy has been won by capitalists. Everything that we’ve tried to do in the past two-three years, those of us who posit an alternative view of the world seem defeated – for now. But we won’t give up. We must continue to write what we know is the truth & agitate for a different world.
      Dont worry Comrade Arthur, it may just happen. For a moment we thought it was near – it now seems lost. But we must persevere.



  3. Ya ne sithi siphethe amaLeader. Others must leave, they must go, they are not qualified to lead the ANC. Cos bayafumbathiswa that y Petoria to day is gone . Because ama leaders esithi siwathembile enza ngathi izimfuno zabanthu abaziboni .

  4. If really they are in denial of this WMC how can they be expected to implement RET am hundred percent that not 40% but 60% of youth representation might yield something with a very strong van guard

  5. Malume Joe Joe lying in front of the whole country..ai ai..i think its time for young lions to do what Lembede, Mandela,Tambo,Mda and the others did to the then old guards of the movement,,cast them aside and take over…23 years its a long time for failure to implement RET…they gave turned the Rand to be the bogeyman of change even kids knows this now I heard them joking the other day,,one saying uzungphushe nje i Rand lizawa…nxa i just laugh

    1. The proposal of a 40% Youth representation sounds great to me. These old people have had their turn.

  6. pinky u are absolutely correct. the ANC needs to implement radical economic transformation as proposed by Malikane as soon as possible. They have to meet our demands as South Africans (1 of which is to eradicate WMC). They must know that we are willing to withhold our votes in 2019 if have to. we are tired of this going around in circles. You have identified the problems,NOW FIX IT!

    1. We’ve always known the problem. I suspect many of our leaders have forgotten how things work at grass roots level. Their lives are so up there that we can spend time worrying about concepts instead of working. I take my head off to WMC – they have perfected the art of divide-and-rule.

  7. This parasite called Trevor Manuel is a big cancer of this country. He is an underground state capturer. If we r blind we r gonna each other for nothing. Joel, ur integrity is questionable. Y feel happy to hear that wmc doesn’t exist? Are u r beneficiary? ANC will always be divided won’t be able to implement its programmes because denialism. I feel so much pain to see our struggle stalwarts turning their backs on real issues. I feel like vomiting

    1. The real problem for the ANC is the cadre who has been bought by big business. There’s a suggestion somewhere that once a cadre gets involved in business they must lose their positions in the structures. This means people like Joel and Trevor would not hold their positions in the ANC. But the issue is not really of individuals but one of a system. If business cant use Joel because he’s no longer an ANC NEC member, they will simply go to the next comrade.

  8. This is such a shame, we r not even supposed to be debating these. We have far far pressing isues than this 1+1=2 stuff

    1. Nkosi, isn’t it amazing that we could discuss these policy proposals throughout the year only to get to the conference to hear there’s a discrepancy on white monopoly capital and we must go back to the branches to discuss them. It is ludicrous. As you say there so many challenges that the ANC have to grapple with & then branches must discuss WMC. Hayi bathong….

      1. So disheartening and its gonna delay the RET. Because for ANC to fully get going with the RET they first need to acknowledge the WMC. ANC is so disjointed Dadewethu. Those who r said to be on Zumas camp whatever they say it get trashed by linking it to the Guptas and the side does not bring much to the table.I hope situations like these won’t discourage ppl like you frm empowering the nation with the news that are not found on mainstream media

        1. I frankly dont even believe the ANC is going to implement RET. It cant deal with simple thing like identifying its enemy & calling it what it is. If you look at how Chris Malikane has been silenced, you see its paying lip service & nothing else. I heard very sad news last week that Gigaba met with Trevor Manuel. My source didn’t say he had gone for advice but I was later told he met him as an advisor.
          But as someone said, we have to demand from the ANC that which we want. AS South AFricans & the ANC faithful, we are not demanding from the ANC what we need. ANC members have left everything to the ANC leadership.
          We must be demanding certain things & demand to withdraw our votes if not met.

          1. Oh my God, I saw your Tweet earlier about Gigaba challenging the PPs report. Let me sleep with a broken heart. Once again Thanks Dadewethu for sharing

          2. Oh you follow me. Please give me your handle to follow. Yeah, I felt deflated I actually went to sleep. The Conference has been long. Lead-up to Conference long if you work at branches. And then you have the Gigabas of the world.

          3. Yeah I do follow kakhulu sisi, please follow me back on @mfokamgogo

  9. This just shows that some in the hierachy in the ANC have lost touch with the grassroot they live in their own parallel world…for goodness sake this is same Joel who years ago said WMC existed..just wonder what changed or is it the shares he acquired(given) in these monopolies

    1. It was so sad watching Joel looking all over the place for an answer that he knows. The origins of white monopoly capital. The meaning and definition. But lying like that in front of national tv & saying he had not researched the concept & wasn’t aware of it, was shameful. Then when it is revealed that he had not told the truth & that the matter was sent back to the branches and yet he had said 9 out of 11 commissions had rejected the radicalisation of WMC, it was tragic.
      The hatred among comrades past Polokwane has even tainted their integrity. People dont care anymore what they say no matter how false. He had an agenda and no matter how short the time within which he could make mileage he took it. My 18 yr old daughter kept asking how he thought he could get away with it. I told her its called propaganda. You make use of every opportunity and hope to score with your followers – but my point is – at what cost. His integrity is shattered right now.

      1. We something like this recently in the parliament when our own ANC refused to vote with the EFF on Land issue and we missed out on a big opportunity just because they wanted to settle cheap scores with the EFF

      2. Just to check, Pinky. Wasn’t Joel merely delivering the outcomes of the commissions? I would like to believe that he is / was simply a messenger such that this statement (WMC doesn’t exist) is not necessarily his, personally, but that of the commissions which makes it for ANC leadership as a whole.

        1. Dear Nathi

          Joel wasn’t delivering the outcomes of the commissions. THat is why it became such a huge issue that was taken up by the Steering Committee and he was asked to apologise.

          What was going on is that the Commissions would be going on with their business and the chairperson would then leave and brief the media. When the Commissions heard what Joel had said about the 9 out of 11’s decision to omit race in monopoly capital, they went berserk. Delegates challenged him but also reported the matter to the Steering Committee which investigated and by morning, it was decided Joel had misrepresented the facts. He was asked to apologise but he refused. THe Steering Committee then apologised for a gross mistake that had occurred. Joel was later seen leaving the conference.

          In short, no he misrepresented the facts. There was never a head count on who was for or against. The matter will be discussed by branches.

          Please read the article on Carl Niehaus somewhere here on UnCensored, he articulates the issue well.



  10. it is contradictory of joel to say that white monopoly capital doesnt exist. but many of people face poverty everyday while his table is full of blood food from our struggle. people like joel made question the struggle credential claim the had face yet they plainly deny what was real enemy then.

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