The Zuma Moment: Between Tender-based Capitalists and Radical Economic Transformation

Abstract

The Jacob Zuma Presidency (2009-2017) was dogged by persistent allegations of corruption and the looting of State Owned Enterprises (SOE's) by those allied to him. It led to allegations of state capture that placed the Gupta family at the centre of this project. These allegations have been highly contested, with Zuma supporters arguing that he has come under attack because of his support for the BRICS alliance (Brazil, Russia, India, China, South Africa), which they hold challenges Western imperial interests. Alongside this are those aligned to the Gupta family, arguing that the real culprits of state capture, both historically and in contemporary South Africa, is White Monopoly Capital (WMC), through its ability to determine macro-economic policy. At the heart of this contest is what has come to be known as tender-based capitalists who sought to use access to SOE's for the accumulation of capital. This process has been defended on the basis that it has the potential to lead a...