Nelson Mandela announces intentions on nationalisation policy

The African National Congress (ANC) Deputy President Nelson Mandela stated that his party was prepared to abandon its long-held policy of nationalisation if the business community could provide an alternative, which would redress the economic imbalances in the country. He further stated that nationalisation did not mean that the private sector will be excluded from certain areas of business and reiterated that the ANC welcomes dialogue with the business sector to ensure growth and equal distribution. Two days later the ANC released a report, which recognised the important role of foreign investment and reassured foreign corporations that they would be free to take their profits out of the country under an ANC government. References: Keesing's Record of World Events, News Digest for October 1995, p. 3851.