Raymond Ackerman - founder of Pick n Pay. Photo: Leon Nicholas.
Raymond Ackerman - founder of Pick n Pay. Photo: Leon Nicholas.

Raymond Ackerman 'opposed to nationalisation'

Time of article published Aug 4, 2011

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Pick n Pay founder Raymond Ackerman says he is opposed to nationalisation as government's role was not to run companies.

“I don't believe even the government wants nationalisation,” Ackerman said on Thursday when interviewed on CNBC in Cape Town.

He went on to say that SA had plenty of opportunity, that it had a strong constitution and would not go the way of Zimbabwe.

“We have a wonderful constitution that would protect us from the likes of the ANCYL (African National Congress Youth League),” he said.

The ANCYL has been calling for nationalisation of the mining and banking sector.

Several government ministers have recently come out in opposition to nationalisation including mining minister Susan Shabangu and public enterprises minister Malusi Gigaba. - I-Net Bridge

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