Marcus appeals to nationalisation backers

[miningmx.com] — Those debating the nationalisation of mines need to look at how well government-controlled entities function, before deciding “what works”, SA Reserve Bank governor Gill Marcus said in Soweto on Tuesday.

“We need to look at this not from an ideological point of view, but from the point of view of what works,” Marcus said in a lecture at the University of Johannesburg.

“If we want to look at the nationalisation of anything in South Africa, look at entities we do control and ask is that the most efficient and effective.

“I ask let this not be an ideological debate. It should be what delivers for the economy.”

Marcus said if South Africa had an efficient and effective state “a lot of issues” it was facing would be improved.

“Think about it quite carefully. It should be about what makes the economy work.

“Let’s face it if you want it to work, you have to have skills and capacity to do that,” she said.