S. African Union Calls for Nationalization, Sunday Times Reports

The National Union of Metalworkers, South Africa’s second-biggest labor union, called for the nationalization of “all strategic economic assets” including banks, mines and energy companies, the Sunday Times reported, citing Irvin Jim, the group’s general secretary.

The union, which is holding its national congress this week, also called for the protection of property rights to be removed from the constitution to allow nationalization without compensation, the Johannesburg-based newspaper cited Jim as saying.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE