on Monday, Mboweni rejected the notion that the wealthy Oppenheimer family was in full control of the country's economy, saying the real power lay with the unions which owned 30% of the companies listed on the Johannesburg Stock Exchange .
He said according to his calculations, the Public Investment Corporation , which invests civil servants' pensions in trading companies on behalf of the state, owned what he called a controlling shareholding in 30% of JSE-listed companies. “The trade unions are there to protect the interests of their members. The largest trade unions in SA are Nehawu [Police and Prisons Civil Rights Union]. They are the ones who own about 30% of the JSE. If you talk about capital, they are the capitalists,” Mboweni said.While still in office, Mboweni clashed and publicly differed with union leaders about issues including his view of the SA economy.
Asked about the other 70% of the JSE, he said: “It's owned by you, pension funds, my pension fund, somebody else. There's nothing like the Oppenheimers owning the SA economy. It doesn't exist. It's technically and scientifically nonexistent.” According to Mboweni, the trade unions are not using their collective power properly by being on the boards of the companies they own to “provide leadership”.
White monopoly Capital is a term that was coined by a British consultant firm employed by the Guptas, to derail us from the corruption and rot that was taking place in out country.
How?
Why say this Tito
That didn't take long
And that’s why international finance and the markets love him 🐩
Myb Tito is on something,is sad being a sell out,u tend to agree with ur oppressors on everything to feed the stomach.
Talking based on pension fund,he is correct Workers own R8 trillion which is still invested Tito tried to say they must get a little bit of it but guess who refused
We have been saying that for years and there is no such thing as wmc.
And they are useless
QueenJZ2 Now he's talking. I like it
This guy has no shame Sbu_Nzima
I think it's Tito judging by the amount of garlic he can afford...have you seen the prices? 🤣
NEHAWU INVESTMENT HOLDINGS PTY LTD. Created to benefit workers. Poor workers.
Lier continues to lie
The formation of unions was to get to know what workers are discussing and plotting so the unions will report to their boses and capitalists will have a plan how to deal with workers
Thanks for that clarification. So we now know who RET and EFF have to target
Nonsense
I couldn't agree more, Unions are nothing but a distraction. They don't represent the interests of the workers but their own sekfish interests. In my opinion I think they have failed to serve their purpose and they should be scrapped.
Very true. Thats why a useless fedaration like cosatu is pushing the agenda of the capitalists.
Is he saying trade unions are owning the 4 factors of production? . Is it trade unions that owns more than 60% of the economy? Or trade unions are marginal capitalist in a sense that They fail to represent the proletariats?
My wife passed away while I looking for employment. I have two children (3 & 4 years) to take care of now and I'm struggling and in my struggle my children sleep hungry😔💔. Please assist us with any food parcel or tinned food you dont use🙏🏻. For my babies 🙏🏻
“White monopoly capital” sounds so revolutionary. But nobody knows what it means.
There is no such thing as white monopoly capital. It was invested by Zuma, the Guptas and marketed by Bell Pottinger. Why are you still flouting this term? Racist much!
They're all in the same boat - on the same trip.
tito_mboweni unions are a gateway to gravy train and proximity to stellenbosch. ramaposa perfect example.
Bo Tito ba rata go bolela yoh😳😳motho nkebe a no enjoya pension hlapi, kgogo le sopo ya dimati.😭
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