South Africa’s ANC Youth League Cheers Call to Take Banks
This article is for subscribers only.
Julius Malema, the youth leader of South Africa’s ruling party, yesterday stepped up demands for the nationalization of mines and banks, triggering cheers from more than 5,000 delegates at a conference.
The government needs to take control of banks such as Standard Bank Group Ltd., Nedbank Ltd. and First National Bank to fund investment in other areas of the economy, Malema said at the end of a four-day meeting in Johannesburg that saw his election for a second term.