Mr Malema, who was expelled from the governing ANC in 2012, said the EFF wanted the redistribution of farm land and the nationalisation of the mines.
“We will share, black and white. But failure to share means you will be forced to share,” he said.
He described his movement’s ideology as “anti-capitalist”.
Wearing a red beret inscribed with “Commander In Chief EFF”, Mr Malema told journalists in Johannesburg that the EFF was “inspired by people’s suffering on the ground”, the South African Press Association quotes him as saying.
“We all belong here, but we all have to show proof that we belong here,” he said.
“Black people have nothing to show. Therefore we must give them something to show so they can say proudly: This is our land, this is our country.”
Once a close ally of President Jacob Zuma, Mr Malema has become one of his strongest critics and campaigned for his removal from office at the ANC’s national conference in December 2012.
He has accused the president of not doing enough to help the poor black voters who had helped to elect him.
According to South Africa’s Mail and Guardian newspaper, he did not commit to contesting next year’s elections, saying such things would be decided at the organisation’s national assembly to be held at the end of July.
Analysts say that increasing numbers of South Africans are losing faith in the ANC, which has dominated the country since 1994, accusing it of corruption and failing to improve the lives of ordinary people.
South Africa is the continent’s biggest economy, largely based on its mineral wealth, but it has experienced sluggish growth in recent years.
Last month, another new party, Agang, was formed by Mamphela Ramphele, the former partner of black consciousness leader, Steve Biko.
However, Mr Malema said he would not work with either Agang or the official opposition, the Democratic Alliance.
Mr Malema became infamous for singing the anti-apartheid song Shoot the Boer, which South Africa’s high court ruled in 2011 was hate speech and banned the ANC from singing it.
However, Mr Malema and other ANC leaders objected, arguing that the song was a celebration of the fight against minority rule.
He was later expelled from the ANC for provoking party divisions.
The 32-year-old also faces a corruption charge relating to a government tender awarded to a company partly owned by his family trust.
He rejects the charge, saying that the case is politically motivated.
Higher Taller
July 11, 2013 at 10:06 pm
This guy will shock Zuma next year. He is very very popular among the youth because he’s being persecuted for revealing corruption amongst the ANC leadership. And he is only being prosecuted after angering his president. That suggests corrupt people in the president’s good books are never charged.
Sotwayo
July 12, 2013 at 2:41 pm
This young thug must first do a study of how Zambia’s fortunes dwindled when major economic set ups like Mines were nationalized by KK.If South Africa decides to Nationalize the enterprises that create wealth for the country, they will wake up to a rude shock as they will start experiencing shortages of essential commodities.Malema should be cut in his bud.
Zedian
July 11, 2013 at 10:21 pm
What corruption can this “corrupt semi-illiterate” expose? Let us not glorify thugs such as this one.
quotriver
July 11, 2013 at 10:27 pm
Maibuye Malema. Show the Old cagos youths can do it.
bigbuttman
July 12, 2013 at 12:36 am
Hopeless youth. He cannot make it outside the ANC. In the end he will have to watch Zuma re-elected. There is no challenger to ANC. South Africa is a defcato one party state.
Ndaje Kahks
July 12, 2013 at 7:36 am
I fear for his life
shikulu
July 12, 2013 at 8:29 am
He behaves like a real man fighting for a common man. But the only thing which disqualifies him is that the ”BOY IS POWER HUNGRY” and behaves boyishly
jama fanaka
July 12, 2013 at 9:33 am
Hypocrite Malema, he talks poor but lives rich
swine
July 12, 2013 at 11:42 am
…exactly like one opposition leader in Zambia!
FYI
July 12, 2013 at 11:45 am
nomba ulefwaya elalya? nangula ukufwala bwino nokulala apa naka? nangu ukukwata ulupiya ulwingi mubanki? ati ekwafwa abalanda..eyo mayo kutiwapapa…
Chisenga
July 12, 2013 at 9:48 am
If South Africans choose Malema as President in the next elections, the country will be set on fire. The boy has dangerous political ideologies. When Malema was leader of the ANC youth league, he was so power hungry that he even started interfering in the internal affairs of countries like Botswana. He claims to be pro-poor but his lifestyle is full of extravagance.
Mpangula Mputyu
July 12, 2013 at 10:04 am
The role Model and God Father for Julius Malema is Bob Mugabe.
Remember Bob does not like Mandela. He once said Mandela is the cause of all ills in RSA. Bob says Mandela must have implemented land reforms but sided with the Boers.
Bob expected Mandela to chase the boers into the Ocean.
Malema cries to be pro poor but lives a rich mans life….. Very rich mans life.
SAINT DESPERATIOUS
July 12, 2013 at 10:47 am
Most African citizens envy Mandela but most African leaders envy Mugabe, you might want to think why that is so, divisions Mandela left in SA are so grave that they can be seen by the naked eye. The country is forever on the brink!
mukombe
July 12, 2013 at 10:29 am
South Africa must be careful not to vote for this thug.
Chisenga
July 12, 2013 at 5:11 pm
Right on my brother. I fear for South Africans if they vote for this lunatic. They will live to regret. The effect of his lunacy will be felt in the whole of Southern Africa.
SAINT DESPERATIOUS
July 12, 2013 at 10:41 am
Maybe if you put on a suit and tone down on the radicalism, continue with the economic focus, you may be taken seriously.
KA GELO
July 12, 2013 at 11:25 am
Is he our Bowman Lusambo’s sibling? He is more like Bowman in more ways than one.
Zibwidi
July 13, 2013 at 1:41 pm
Malema can speak good English than Bowman who can’t even express himself but rather borrow words which he can’t even pronounce properly. Instead of saying the “ruling party” he says the “luring party”. SA needs to be shaken up by people like Malema so as to recover their lost glory created by Mandela.
Kennedy
July 12, 2013 at 2:34 pm
Have all of you demonising Malema been to South Africa? The whole country is fenced off and all the majority blacks live in crowded slams. Wake up.
“We all belong here, but we all have to show proof that we belong here,”
This is a beaultiful statement.
J J
July 12, 2013 at 4:32 pm
He is the Chimbwi No Plan of South African politics but I see him voted in as President of cos just like here in Zambia the majority black voters in RSA are illiterates who fail to distinguish between a fool and a normal person. South Africans will regret like us in Zambia.
Chisenga
July 12, 2013 at 5:23 pm
Ba Tumfweko, this news item was copied from BBC website. The heading is misleading. It seems you are adding your opinions. The original article on BBC website does not suggest that Malema’s new political party has sent shivers in the ANC party. Infact a BBC correspondent in South Africa says Malema will need to work extra hard to unseat the ANC. How did you conclude that the party has sent shivers in the ANC? Are you Malema’s cadres? Be serious with your reporting.
Akafitu ka mbala, kandolo, ichipushi mataba na nzonge
July 13, 2013 at 5:13 am
Even here in Zambia, mr. Mpombo has formed a party
one 10
July 13, 2013 at 8:46 am
south africa will end up like zimbabwe under malema if voted into power
jaulani
July 15, 2013 at 12:11 am
he is going no where, the bastard, mbwa yamuntu