Get more Mail & Guardian
Subscribe or Login

Mbeki warns against use of ‘white monopoly capital’ phrase

Former President Thabo Mbeki has warned against the use of “white monopoly capital” phrase and says it is “an abuse of a phrase which was used in scientific economic literature”.

Mbeki was interviewed by Power FM chairperson Given Mkhari on Thursday.

The former president said the focus should not be on catch phrases like white monopoly capital but on the capitalist system itself.

“Let us understand properly what is happening to this capitalist economy so that we can intervene to do the right thing because if we misdiagnose the problem the cure is going to be wrong,” said Mbeki.

“So when somebody comes to you to say the principal enemy of the national democratic revolution is white monopoly capital and things like that, I know the role of monopoly capital,” he continued.

Mbeki also addressed the criticism that some of the policies he adopted during his presidency were based on a false belief that HIV does not cause AIDS.

“There was an issue that was raised in the literature that some of these AIDS drugs had a very high toxic effect and then I said that the matter must be looked at because it may be that it is the drug that kills the people rather than the illness because of the toxicity of the drugs,” said Mbeki.

“As it happened with that, particular drug they actually reduced the dosage globally because the allegation that it was highly toxic was correct,” he continued.

The former president has been previously criticised by many, including the United Kingdom for encouraging Zimbabweans to decide their future during his term.

“It is the responsibility of the people of Zimbabwe to determine their future. It is the responsibility of the people of South Africa to determine our future. An apartheid South Africa very different from independent Zimbabwe. Of course, you can impose sanctions on Apartheid South Africa but let the people of Zimbabwe sort this thing amongst themselves,” said Mbeki.

“An external solution that gets imposed on people the locals will not take ownership. The owners of the problem must own the solution”, he continued.

Subscribe for R500/year

Thanks for enjoying the Mail & Guardian, we’re proud of our 36 year history, throughout which we have delivered to readers the most important, unbiased stories in South Africa. Good journalism costs, though, and right from our very first edition we’ve relied on reader subscriptions to protect our independence.

Digital subscribers get access to all of our award-winning journalism, including premium features, as well as exclusive events, newsletters, webinars and the cryptic crossword. Click here to find out how to join them and get a 57% discount in your first year.

Given Sigauqwe

Related stories


If you’re reading this, you clearly have great taste

If you haven’t already, you can subscribe to the Mail & Guardian for less than the cost of a cup of coffee a week, and get more great reads.

Already a subscriber? Sign in here


Subscribers only

South Africa’s mothballed ‘supermall-ification’ sets strip malls up for success

Analysts agree that the country has enough malls and that, post-Covid, the convenience of local centres lure customers

Mabuza’s Russian jaunts and the slippery consequences of medical tourism

For more than five years the deputy president has remained steadfast in his right to travel abroad to receive medical treatment

More top stories

Deputy president Mabuza begs Tshwane voters: ‘Don’t abandon the ANC’

Angry Atteridgeville residents hurl insults at ‘dysfunctional’ ANC full of ‘corrupt individuals’ as Mabuza fails to placate them with party T-shirts and doeks

Taxi operators clash with cops over disputed Route B97 in...

Three suspects remain in custody following their arrest on charges of attempted murder and assault after eight taxis were impounded

SA teens, you’re next in the queue for a vaccine...

Teenagers between the ages of 12 and 17 will be able to register to receive their Covid-19 jab from 20 October. This group will be given only one dose of the Pfizer vaccine, for now

Former US secretary of state Colin Powell dies aged 84

The 84-year-old died as a result of complications from Covid-19

press releases

Loading latest Press Releases…