South Africa: ANC Kisses #RET Campaign Goodbye, Affirms Economic Growth As Priority

analysis

The fightback faction failed to muster any support at the governing party's meetings to kick off the political year at the weekend. Instead, the party projected a picture of unity, but will it last?

President Cyril Ramaphosa effectively kissed the RET, or radical economic transformation campaign of the ANC's fightback faction goodbye at the weekend. Instead, the ANC has affirmed a growth-led year for the governing party.

"Our overall priority is economic growth," said the party's Secretary-General Ace Magashule at a party briefing on Wednesday, 22 January 2020 at its Luthuli House headquarters.

The World Bank has lowered its forecast for growth in South Africa to 0.9% for 2020 while the International Monetary Fund (IMF), has it pegged even lower at 0.8%. This has stopped the party's egg-dance between RET and the more conventional stimulus plan Ramaphosa favours.

The RET campaign is that of the party's so-called fightback faction and it pivots on policy positions such as the nationalisation of the SA Reserve Bank (SARB), radical land expropriation without compensation, nuclear being a significant part of the energy mix and on cadre deployment.

Instead, Magashule put meat on the bones of Ramaphosa's concluding remarks to the party's annual planning lekgotla,...

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