The present situation in South Africa is, in objective terms, a house divided; a house that is tottering on rotten foundations. Despite the more general social, political and economic advances that have been made under the ANC's rule since 1994, power has not only remained in the hands of a small minority but has increasingly been exercised in service to capital. This has seen the ANC become the key political vehicle, in party and state form as well as application, of corporate capital; both domestic and international, black and white, local and national and constitutive of a range of different fractions. As a result, 'transformation' has largely taken the form of macro-acceptance of, combined with micro-incorporation into, the capitalist system, now minus its specific and formal apartheid frame.