The ANC Billionaires: Big Capital’s Gambit and the Rise of the Few

In 1985, a group of white South African business leaders traveled to Zambia to meet with the exiled ANC leadership. This visit set in motion a plan by big business to influence political change in South Africa. Pieter du Toit's book investigates whether secret deals were struck between capital and the liberation movement to ensure the status quo remains in terms of economic policy. It also sheds light on the millionaires and billionaires who have benefited from their relationship to the party.

Format: Paperback / softback
Length: 304 pages
Publication date: 31 October 2022
Publisher: Jonathan Ball Publishers SA

In September 1985, a group of white South African business leaders embarked on a journey to a game lodge in Zambia to meet with the exiled ANC leadership under Oliver Tambo and Thabo Mbeki. Their objective was to gain a deeper understanding of the ANC and its goals, with Gavin Relly, the executive chairperson of Anglo American, leading the way. This visit marked the beginning of a coordinated and well-resourced plan by big business to influence political change in South Africa.

Following the unbannings of the ANC, their primary concern was to prevent the country from becoming a bastion of socialism. In his book, The ANC Billionaires, top-selling author Pieter du Toit delves into the possibility of secret deals struck between capital and the liberation movement to maintain the status quo in economic policy. He also highlights the ANC's lack of preparedness in navigating the complex intersection between business and politics. The book draws on first-hand accounts from major role players, shedding light on the contentious relationship between capital and the ANC before, during, and after the country's transition to democracy. It also explores the wealth amassed by a cadre of politically connected businessmen, such as Tokyo Sexwale, Cyril Ramaphosa, Saki Macozoma, and Patrice Motsepe, who gained access to preferential empowerment deals brokered by companies like Anglo American.

One common thread among these individuals is their association with the ANC, which has served as a platform for government and patronage. Their relationships with the party have not only enriched them financially but have also played a significant role in shaping South African politics and economics.

Weight: 450g
Dimension: 151 x 229 x 21 (mm)
ISBN-13: 9781776191345