Mandela's Slow Motion Sell Off

His challenge is to unload state behemoths and help make blacks an economic force

Just five years ago, Nelson Mandela's African National Congress chilled South Africa's private sector with talk of nationalization. Many of the ANC's leaders in exile, educated in communist-bloc or leftist Western institutions, believed that nationalizing South Africa's major industries would prove a powerful tool for bringing its core economy under the control of the black majority. They also agreed with the South African Communist Party that nationalization would help correct the great disparities of income and opportunity in white-run South Africa once the apartheid regime had been consigned to history.

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