The Presidential Years

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Question - You made the point that the ANC’s track record is clear, people understand your motives. Can I ask you not from the point of view of people in the townships but from the point of view of big business and would-be investors? They will say and they do say, ‘We watched you on the question of nationalisation, you changed your minds [sic] for the reasons you explained in Durban but if you are capable of changing your mind under pressure from foreign investors and foreign governments you might change your mind again. Cosatu might persuade you to go for nationalisation.’ They’re worried still. Do you recognise that?

Nelson Mandela - Well that is tantamount to saying that if you make a statement on the basis of the conditions existing on that day, at that time you must never change that statement if conditions change. What is important is that we understand that it’s not going to be possible for us to attract investments both from overseas and from the country itself if there is a danger that people’s properties would be confiscated. It is quite clear now that throughout the world nationalisation is not a popular option. And so that it’s not just a question of what we want, it is a question of the concrete situation in the country which is going to demand that foreign investors and local ones should be reassured that there is no danger of confiscation of their property. We can only get these investments and build our economy provided this investor confidence is maintained throughout.

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