The African National Congress Youth League (ANCYL) would engage with business, labour and communities in coming weeks to hear if they could provide any alternatives to nationalisation and land expropriation.

In an article posted on the league’s website, the ANCYL president Julius Malema said that these parties were “blowing hot air” and not providing alternatives to bring about real economic transformation.

“We have patiently and attentively listened to what business said, to what the South African Communist Party said, to what some leaders in the ANC said, but we still cannot hear any alternative to our programme for economic freedom in our lifetime.”

Malema also accused business of intimidation through their threats of disinvestment in South Africa and added that ANC leaders, that failed to see to the transfer of wealth, wrote “waffling analysis”, which the league said it did not understand.

“White domination over the black majority is still a reality owing to massive economic inequalities. The status quo is not an option, and the ANCYL has a political and economic programme to address this. What are the analysts, big business, communists and neo-liberal sycophants saying should be the alternative?” asked Malema.

The ANCYL has proposed that the government take stakes of at least 60% in mines. But big business and analysts have warned that nationalisation with compensation would destroy South Africa’s fiscal stability, while nationalisation without compensation would go against the country’s Constitution.

The ANC has commissioned a study which will look at the South African mining sector, as well as four other countries where the industry has been partly or fully nationalised.

The issue of nationalisation would be discussed at the ANC’s policy conference next year.