President Ramaphosa slams the use of the term 'white monopoly capital'

President Ramaphosa slams the use of the term 'white monopoly capital'

- President Ramaphosa wants the term "white monopoly capital" to not be used anymore

- Ramaphosa says that all entrepreneurs should be treated like heroes

- It's unclear how prominent users of the term (like the EFF) feel about the president's call to stop using the term

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President Ramaphosa does not approve of the commonly used term 'white monopoly capital'. He wants South Africans to stop using it.

Ramaphosa addressed the SA Investment Summit Dinner on Friday and spoke about this phrase.

The president said that entrepreneurs should be treated as heroes.

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According to a report by News24, Ramaphosa stated that South Africans have grown used to treating business people and entrepreneurs badly and calling them names.

Ramaphosa then says that "we should treat our entrepreneurs as heroes".

White monopoly capital – that must end today.

Ramaphosa's statement was met with loud applause.

READ ALSO: DA's Mazzone lashes out at councillors who resigned over alleged racism

Political parties like the EFF like using the term and won't likely react positively to the president calling for an end to the use of it.

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Source: Briefly.co.za

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