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ANC Youth League hits back at 'shameful and reckless' Loubser

Faranaaz Parker

The ANC Youth League has issued a veiled threat against its latest high profile detractor, former JSE chief executive Russell Loubser.

The ANC Youth League has launched a veiled threat against Russell Loubser.

In response to a blistering attack launched against it by Loubser on Wednesday night, the ANC Youth League defended its views saying the issues it raised represent the views of the majority of the poor.

"If white monopoly capital continues to treat [the poor] in the manner demonstrated by the shameful and reckless Mr Loubser, it may be necessary to speak to him in the only language understood by white supremacy in this country," the league said in a statement released on Thursday.

The youth league said Loubser was "spewing reckless rhetoric".

"He makes all his derogatory remarks from his ivory tower, decorated with his salary of more than R14-million in 2011 alone, an increase of 14% from the previous year; but then again how can we ever expect him to understand the suffering of those who have to die for a mere R12 500 per month?" it said.

On Wednesday night, during a public lecture titled "No guarantees, but many opportunities" delivered at Wits University, Loubser labelled the league racist, greedy, a disgrace, and an embarrassment for the country.

He said the youth league consistently spoke about redistributing wealth but did not express ideas on how to create wealth. He also slammed the "constant, brainless talk about nationalisation of our mines by people of room temperature IQ", and called expelled youth league leader Julius Malema an arrogant racist with no work ethic.

Malema, a fierce proponent of nationalisation, owes Sars R16-million and was recently charged with money laundering.

But the league said Loubser's dismissal of nationalisation as "emotional and brainless talk" is an insult to the ANC Youth League, the ANC, and "all its structures as nationalisation has been adopted as policy by the national policy conference of the ANC".

The question of nationalisation is still open for debate at the ANC's elective conference in Mangaung this December. Earlier this year delegates at its policy conference rejected "wholesale nationalisation" in favour of "strategic nationalisation", where deemed appropriate "on the balance of evidence".

The public spat comes during a time of worsening investor confidence for South Africa, widespread turmoil in the mining sector, and growing questions about the quality of political leadership through the crisis.


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