SOUTH AFRICA’S ruling ANC hit back at former finance minister Trevor Manuel yesterday after he rejected the notion of “white monopoly capital.”

In an article on the Daily Maverick website, Police Minister Fikile Mbalula, a member of the ANC’s national executive committee, laid into the comments reportedly made by the long-serving finance minister at the Nelson Mandela Foundation last week.

The City Press newspaper reported on Sunday that Mr Manuel told the gathering: “White monopoly capital doesn’t exist.”