OpinionState Capture

White Monopoly Capital and Radical Economic Transformation

By Mxolisi Ka Nkomonde

Roelf MeyerRoelf Meyer

On 8 April 2013 Wikileaks published 2-million records from Public Library of US Diplomacy (PlusD) which covers US involvement in diplomatic or intelligence reporting on every country on earth. One of the records titled “Meyer Says Zuma Election Offers Window Of Opportunity For U.S” [1] gives an account of former South African minister and businessman Roelf Meyer’s meeting with US embassy Political Officers (PolOff) a few days after Jacob Zuma was elected President of the African National Congress (ANC) in December 2007.

An excerpt of contents of this exchange between US Embassy and Roelf Meyer dated 28 December 2007 is as follows:
“Former South African Government (SAG) minister and businessman Roelf Meyer told A/PolCouns and PolOff December 20 that he is not ‘overly concerned’ about the election of Jacob Zuma as ANC President (ref A). Zuma is unlikely to move South Africa ‘dramatically to the left’ at least in the short-term. Meyer worries, however, about the pressures from Zuma’s populist constituency over the medium to long-term”.

The exchange between Roelf Meyer and US Embassy Officers went further and discussed “opportunities” for US businessmen with the Zuma administration through particular ANC leaders.  Meyer believed the Zuma administration would be more open and accessible, noting that even people like himself – one of the highest profile white ANC members had difficulty gaining entry to Mbeki decision-makers. He believed that the then new ANC Treasurer General Mathews Phosa would be particularly influential and a good “entry point” to the Zuma camp for businessmen and diplomats. On the U.S. relationship with the ANC, Meyer suggested that the weeks which followed the discussion would be an opportune time to reach out to Zuma and his camp. “They are looking for warmth” Meyer said.

The concerns raised by Meyer regarding Mbeki,  Zuma, ANC policies, White Monopoly Capital and foreign interests were reiterated in May 2016 by Michael Spicer who is linked to Business Leadership South Africa (BLSA), Royal Institute of International Affairs (Chatham House) and South African Institute of International relations (Jan Smuts House)[2]. One of the key passages from Michael Spicer’s long essay titled “Business and govt: What went wrong?” stated the following regarding ANC policies: “The Reconstruction and Development Programme (RDP), launched soon after the 1994 election, was perceived by business as an idealistic and impractical approach to development when the economy was weak and suffering significant post-apartheid fiscal and structural headaches.”

The exchanges above show that the main concern for White Monopoly Capital as represented by Roelf Meyer and Michael Spicer is upholding government policies which further entrench economic Apartheid by keeping the Black majority poor and with no control of the economy. After all, both men abhor state intervention even though 91% of the South African population (Black) can’t take part in the economy outside selling labour for slave wages for at least the next century.

Now that the ANC has fully embraced that South Africa is a ticking time bomb without radical change in the economy, the beneficiaries of Apartheid will increase their anti-government stance which goes back to to the time of Mandela presidency.

[1] https://wikileaks.org/plusd/cables/07PRETORIA4251_a.html
[2] http://www.politicsweb.co.za/news-and-analysis/business-and-govt-what-went-wrong


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  1. Jeff and Njabulo are spot on. Let’s stop consumer the venom we are fed by mainstream media. It’s time we became more practical and robust in our quest for radical transformation and liberation from the clutches of MNC. We need to identify a “co-ordinating centre” which will rally support from all progressive forces, conscientize them of the peril our country is, strategize on the form of action that needs to be taken going forward, given/distribute tasks to those interested to participate etc etc. This is in a nutshell; but we need to start somewhere, or add to efforts of others who are already making a dent. For how long will we lament the approaching regime change and exclusion of the Black majority from accessing the economic benefits? It’s time we were equally respected as citizens of this land. Where do we start?

    1. Where to start is the biggest problem. We must put our heads together and stop complaining always but begin to do….

      Hope we can start some online discussion and come up with ways. This would require UnCensored to have some form of chat room. Please keep all the ideas for that time Stalin. There’s another idea you made recently, I’ve just been swamped but let me investigate that and see what can be done.



  2. So very true about our buying power. I used to buy all publications on Sunday, thinking I’m empowering myself. Until I realized they’re all talking the same propaganda, and I stopped buying them.

    I wish all Black people can realize this white propaganda and stop buying these papers once and for all.

    Let’s put them out of business

  3. Anti government stance will not work anymore! We don’t believe in their misleading narations marketed by their medias houses anymore, in fact all black people should boycout all these newspapers with fake news to brain wash us & let’s put them out of business! Black people have the buying power in this country, let’s use that for radical transformation in every sector of our economy.

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