Economic Freedom Fighters (EFF) leader Julius Malema has said South Africa’s economy cannot be transformed without a disruption.
Speaking at the Black Business Summit hosted by the Black Business Council in Johannesburg on Thursday, Malema likened transforming the economy to renovating a house, something that involves a “disruption.”
He said, “There cannot be a reclaiming of the economy without a fundamental change. White people tell you that the way you go about it, you’re going to disrupt and collapse this economy.”
The EFF leader added, “But the reality is [that] there is no way we can transform this economy without disrupting this economy.”
He said this “disruption” would involve expropriation of land without compensation because land was taken through “black genocide.”
Malema said state custodianship of land would be similar to the current state custodianship of South Africa’s mineral resources.
He claimed those saying land expropriation without compensation would cause a recession are racist because they don’t want black ownership of land.
Malema said, “If we are in a recession because people can’t trust the ownership of land by black people, then let it be, because when the land is owned by white people, there is no recession, but when it is owned by black people, it would lead to a recession.
“We must never accept that. We are equally capable to own an economy, we are equally capable to own the land, and therefore there is no investor who must suspect us on the basis of the colour of our skin.
“If you use the colour of our skin to determine whether you’re going to invest or not, then you are a racist investor who’s got no place in South Africa. We’d rather be in a recession than benefit from the proceeds of a racist investor.”
Malema also urged the government to promote local manufacturing, including of uniform for the police, military, and prison warders and inmates.
According to its website, the Summit’s purpose is to “review and interrogate policy and legislative instruments that affect overall socio-economic transformation and inclusive growth in South Africa.”
African National Congress (ANC) national spokesperson Pule Mabe represented his party. Others present were Democratic Alliance’s (DA) head of policy Gwen Ngwenya and Inkatha Freedom Party (IFP) leader Velenkosini Hlabisa.