Oligarchy and the subversion of democracy – warnings from South Africa

Wim Naudé (in Review of African Political Economy, 11 April 2025) warns that South Africa’s oligarchy offers a case study in how elite control can subvert democracy and entrench inequality. Since the end of Apartheid, the country has embraced neoliberal economic policies that favour mining, finance, and agri-business elites, pointing to a strong collusion between oligarchs and the ANC. While corporate profits and market capitalisation have soared, most South Africans face poverty, high unemployment, and poor public services. Naudé argues that South Africa’s stagnant, exclusionary economy can only be transformed through dramatic reforms.

In full here.