Malema presses for nationalisation

The embattled youth leader of South Africa’s governing party who claims to speak for a frustrated generation used what he said could be his farewell address Friday to press calls for nationalizing South Africa’s economy, a populist stance that has worried potential foreign investors.

Monday, February 13, 2012

The embattled youth leader of South Africa’s governing party who claims to speak for a frustrated generation used what he said could be his farewell address Friday to press calls for nationalizing South Africa’s economy, a populist stance that has worried potential foreign investors.Both the president and the finance minister have declared this week that nationalization is not government policy, and they and other leaders have expressed concern about the impact of Julius Malema’s insistence on raising the issue.

Malema faces suspension from the governing African National Congress Party, and on Friday seemed to be trying to rally his supporters to carry on his fight.