{"id":151921,"date":"2017-01-22T12:33:42","date_gmt":"2017-01-22T10:33:42","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=151921"},"modified":"2017-01-22T12:40:34","modified_gmt":"2017-01-22T10:40:34","slug":"zuma-gets-radical-talks-up-shock-economic-transformation-policies","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/151921\/zuma-gets-radical-talks-up-shock-economic-transformation-policies\/","title":{"rendered":"Zuma gets radical – talks up “shock” economic transformation policies: report"},"content":{"rendered":"

President Zuma has instructed ANC policy makers to introduce stringent new laws on South Africa’s financial institutions, forcing them to sell stakes to black investors, according to a report by The Sunday Times<\/a><\/strong>.<\/p>\n

Speaking at a closed door ANC policy workshop in Pretoria this past week, President Zuma has reportedly announced a “shock” rework of the party’s economic transformation policies\u00a0which, alongside increased black ownership in banks, will also include plans to speed up the redistribution of land as well as increasing black ownership in major economic sectors such as construction.<\/p>\n

An ANC insider speaking to the Sunday Times said that Zuma had instructed the changes be made as he was\u00a0concerned about\u00a0“a few white families who seem to be in charge of everything” and that now was the time to “move towards an economy owned by black people”.<\/p>\n

The changes made to the ANC’s economic transformation polices follow intensified attacks on South African financial institutions over the past week\u00a0by Gupta-owned news channel, ANN7, the Sunday Times said.<\/p>\n

The news channel has initiated a campaign titled “The New Age’s fight for financial liberation<\/a><\/strong>” which was created “to transform the financial and economic structures in South Africa, and end the system whereby an elite minority of old guard businesses control the economy”.<\/p>\n

Economic redistribution and the fight against “western forces” and “white monopoly capital” will also reportedly be the main platform of Nkosazana Dlamini-Zuma when she\u00a0campaigns for the ANC presidency.<\/p>\n

This would apparently\u00a0discredit any plans current Deputy President Cyril Ramaphosa has to run for the presidency, among claims that he is “beholden to big business”, the report said.<\/p>\n

 <\/p>\n

You can read the full story in the Sunday Times for 22 January 2017<\/em><\/p>\n

\n

Read:\u00a0ANC could lose another major metro<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

President Zuma has reportedly instructed ANC policymakers to introduce stringent new laws on South Africa’s financial institutions, forcing them to sell stakes to black investors as the party plans a complete rework of its economic transformation policies.<\/p>\n","protected":false},"author":10,"featured_media":53100,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,23],"tags":[26,3120],"class_list":["post-151921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-government","tag-headline","tag-sunday-times"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/151921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=151921"}],"version-history":[{"count":20,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/151921\/revisions"}],"predecessor-version":[{"id":151961,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/151921\/revisions\/151961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/53100"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=151921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=151921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=151921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}