Nationalise Telkom: Malema

Julius Malema says a strategic mission of his political movement, the Economic Freedom Fighters (EFF), is for the nationalisation of mines, banks, and other strategic sectors of the economy, including Telkom, without compensation.

The EFF published its founding manifesto on Thursday (25 July) in which it says that owing to the character of the South African economy and the aspirations of the people for economic freedom, state ownership and control of strategic sectors of the economy should be the foundation for sustainable economic transformation in South Africa.

“A supposition that the South African economy can be transformed to address the massive unemployment, poverty and inequality crisis without transfer of wealth from those who currently own it to the people as a whole is illusory.

“The transfer of wealth from the minority should fundamentally focus on the commanding heights of the economy. This should include minerals, metals, banks, energy production and telecommunications, and retain the ownership of central transport and logistics modes such as Transnet, Sasol, Mittal Steel, Eskom, Telkom and all harbours and airports,” states the EFF manifesto.

The government already has a 39.7% in Telkom, and an additional 10.6% through the Public Investment Corporation (PIC).

SOEs

The manifesto says that South Africa’s established state-owned enterprises and semi-owned parastatals, including SAA, the Airports Company of South Africa, Eskom, Telkom, Denel, Safcol and other public entities such as the SABC, Infranco and Sentech should begin to invest in the development of the African continent.

“While avoiding adventurism, these investments should not be driven by the narrow pursuit of profit maximisation, but the need to develop Africa’s infrastructure, logistics, systems and communications in a manner that will transfer skills and create sustainable employment opportunities for many people in the continent, thus contributing to development.”

Science and Technology

On matter of science and technology, the EFF says it will advocate for and implement programmes that seek to use science and technology as contributors to sustainable livelihoods. “The dissemination of information, education and democratic participation should be enhanced and harnessed through technological developments and capacity.”

The EFF says it will advocate for and implement the construction of a High Technological Institute, “which will teach young South Africans innovation and research on technology with the aim of innovating technological instruments and gadgets in South Africa”.

“The industrial policy on science and technology should speak to heavily supporting, promoting and protecting technological innovations that are made in South Africa. Before these innovations are developed, South Africa should attract technological and electronic-gadget manufacturers to manufacture their goods and services in South Africa in order to transfer skills and expertise,” the manifesto said.

“Our decision is to fight for the economic emancipation of the people of South Africa, Africa and the world. EFF locate the struggle for economic emancipation within the long resistance of South Africans to racist colonial and imperialist, political, economic, and social domination,” the document said.

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Nationalise Telkom: Malema