‘Don’t be populist, opportunistic or factional’: Blade Nzimande’s warning

Speaking on the outcomes of the policy discussions, party spokesperson Alex Mashilo outlined measures the SACP believes will help turn around the economy.

Quoting from the congress declaration, Mashilo said the state has been “tenderised” and institutions, including parliament, failed to play an oversight role.

“The state was tenderised, in other words divided into tenders awarded to the highest bidders or whoever is politically connected, and within this context public resources were looted more so under state capture,” he said.

“The widespread corruption was accompanied by government mismanagement. State institutions including parliament … failed to play their role. They were weakened and others were co-opted to either turn a blind eye to the rot or assist it.”

Mashilo said the party had met during a “deep crisis” in the economy.

“The congress is held in the background of a deep crisis, particularly affecting the working class and the poor of our country,” he said.

“This crisis is typified by a stagnant economy that is continuing to shed jobs in the context of a high unemployment rate, entrenched poverty and widening inequality.

“The solution to economic and social reproduction crisis lies in the pursuit of developmental democratic path and state.”

The declaration calls for the following:

• The building of a “publicly-controlled developmental banking and financial sector”.

• Prescribed assets.

• A sovereign wealth fund.

• The expansion of the mandate of the SA Reserve Bank

• Acceleration of land redistribution.

• The introduction of a wealth tax; and

• The establishment of a state-owned pharmaceutical company.