The SA Communist Party (SACP) has called for a radical transformation of the country’s financial sector including passing legislation that would force banks to finance low-cost housing projects for the poor.

The party, which opened its 13th conference at the University of Zululand in Empangeni, also wants workers’ pension money to be invested in private financial companies to help start projects that would create jobs for unemployed workers.

Delivering his political report at the congress, SACP general secretary Blade Nzimande, said the party was happy that the ANC had similar ideas when it came to transformation of the country’s economy.

He said his party welcomed the idea of the second transition, the key feature of which should be the enhanced role of state in economic development.

“The above means that our economic strategies, as a movement, must decisively move away from the paradigm of lowering costs of doing business to that of developmental intervention.

“Legislation must be made to force South African banks to invest in low-cost housing. It is after all the money of the working class,” said Nzimande.

“The SACP strongly supports the call of the ANC policy conference to undertake a comprehensive review of the macro economic framework to ensure it was aligned with developmental goals.”

However, he warned that biggest threat to the implementation of the second phase was tenderprenuership, corruption and the role of dirty money in politics.

The renewal of the ANC should include the intensification of the struggle against corruption on all fronts.

“Yes, corruption is endemic in a capitalist system but we cannot wait for socialism to end it. We must fight it now,” he said, adding that this fight should target the “big fish.”

He also lambasted what he called the “liberal media” saying it had positioned itself on the side of the opposition.

He said Independent News & Media’s SA operations should be broken up and not sold to a monopoly.

He described Independent Newspapers as an “active opposition to the government”.

SACP deputy secretary-general Jeremy Cronin told journalists the Irish owners of the group had been guilty of asset stripping its SA operations and that “R500 million has been shipped out of the country”.

Both he and Nzimande said they would like to see more localised newsrooms rather than the current pooling of news gathering resources found in the large media groups.

Nzimande said the SACP was happy with the ANC as led by Jacob Zuma and would release its chairman Gwede Mantashe, to focus on his role in the ANC.

“Our wish is that he stays there for a longer time. We note with satisfaction some important progress made by the government under the leadership of President Zuma,” he said.

The conference was dominated by pro-Zuma slogans and the raising of two fingers indicating the party’s support for a second term for the president.

Earlier, axed ANC Youth League leader Julius Malema and former ANC chief whip Tony Yengeni featured in songs at the start of the conference.

“Asinandaba uMalema uyayizonda le party, asinandaba uYengeni uyayizonda le party (Malema hates this party but we don’t care, Yengeni hates this party but we don’t care),” delegates sang.

In another song, some delegates sang: “Malema ungayijahi impi ngoba iyabulala (Malema do not be in a hurry to fight in a war, because it kills).”

President Jacob Zuma will address the conference on Friday.

Source: iol