South Africa debates industry nationalisation

South Africa's ruling party -- the African National Congress, or ANC -- is meeting this week to decide how it wants to shape the country's future. There's been fierce debate in the build-up to the conference over whether the country's mines, banks and land should be nationalised. The governing African National Congress accepts that policy has failed. But with eighty percent of land still in the hands of whites, the rate of change - however unsuccessful - is just too slow for some who want land, mines and the reserve bank nationalised. It's this type of talk that's led to hundreds of white commercial farmers moving to neighbouring countries. South Africa is mineral rich. The mining sector accounts for more than half of all exports. But investors are nervous, and now companies are hoarding near record amounts of cash as they wait to see what the ANC decides. Even if wholesale nationalisation is off the table business leaders say the ANC's proposal to increase taxes will hurt. The ANC's Secretary-General says the situation can't continue the way it is now. Tania Page, Al Jazeera, Johannesburg.